28th Aug 2008 10:19
Thomas Cook Group PLC
Repurchase of shares pursuant to an irrevocable instruction
Following the recent update Thomas Cook Group PLC (the "Company") provided in relation to Condor, the Company announces that as part of the share buy-back programme which was announced on 12 March 2008, the Company has entered into irrevocable non-discretionary arrangements with UBS Limited to repurchase, on its behalf, its own shares for cancellation during the period commencing today and ending on 13 December 2008.
The buy-back programme will be managed by UBS Limited ("UBS"), who is an independent third party that the Company has duly authorised to make trading decisions independently of, and uninfluenced by, the Company.
Any purchases will be effected within certain pre-set parameters, and in accordance with both the Company's general authority to repurchase shares and Chapter 12 of the Listing Rules which requires that the maximum price paid, excluding expenses, be limited to no more than the higher of: 105 per cent of the average market value of a share as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase; and the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchases are being carried out.
Enquiries:
Brunswick Group LLP
Fiona Antcliffe / Sophie Brand + 44 (0)20 7404 5959
Related Shares:
Thomas Cook