18th Jul 2007 12:43
Independent News & Media PLC18 July 2007 Independent News & Media PLC 18th July 2007 Purchase of Own Securities Independent News & Media PLC ("the Company" or "the Group") announces today thatit has purchased 6,500,000 ordinary shares of nominal value of €0.30 each in thecapital of the Company ("Ordinary Shares"). The price paid for these shares was €3.65 per share. This purchase is part of the Group's efficient capital management policy, andwill as referred to in the Group's 2007 First Half Pre-Close Trading Statement,enable the Group to proactively manage the dilutive impact on all INMshareholders, which will arise on the maturity of the New Zealand CumulativeExchangeable Preference Shares, if as expected, they convert into INM shares (c.56 million) in late November 2007. All of the Ordinary Shares repurchased will be held in treasury. The totalnumber of shares held in treasury following this repurchase is 22,582,299 andthe total number of Ordinary Shares in issue, less the treasury shares, is754,034,053. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Independent News & Media