31st Mar 2010 14:53
John Menzies plc - Purchase of Shares
John Menzies PLC ("the Company") announces that it is to buy up to GBP2.3 million of its ordinary shares to satisfy future awards under the Company's Long Term Incentive Plans. Shares awarded from the Plans will only be given to participants after the attainment of performance criteria as detailed in the Company's annual report.
Any share purchases will be held in treasury and will be effected within certain pre-set parameters. The maximum price to be paid is not more than the higher of:
1. 5% above the average market value of the company's equity shares for the 5
business days prior to the day the purchase is made; and
2. that stipulated by Article 5 (1) of the Buy-back and Stabilisation
Regulation.
Given the level of liquidity in the Company's shares, the Company may purchase no more than 50 per cent. of the average daily volume of 421,682 shares for February 2010 being the latest month prior to commencing the share buy back programme.
Any shares purchased will count towards the Company's general buy-back authority of 6,020,794 ordinary shares, as approved at the Company's AGM on 21 May 2009.
John Menzies confirms that having published its preliminary results on 9 March 2010, it currently has no unpublished price sensitive information.
Enquiries John Menzies PLC
John Geddes, Group Company Secretary Tel: +44 131 459 8018 Numis Securities Limited
Tim Rowntree Tel: +44 207 260 1000
vendorRelated Shares:
MNZS.L