28th Dec 2005 12:31
2 ergo Group plc28 December 2005 Immediate Release 28 December 2005 2ergo Group plc ("2ergo" or "the Company") Share Buy Back Following approval of the share buy back agreement by the Company's shareholdersat the Annual General Meeting of the Company held on 7 April 2005, the Companyis pleased to announce that a further 636,364 ordinary shares of 1p each in theissued share capital of the Company were purchased on 22 December from MichaelKilgannon and are to be held in treasury. Following this purchase, Michael Kilgannon now holds 827,272 ordinary shares of1p each, representing 2.93 per cent of the Company's issued share capital(excluding shares held in treasury). The Company also holds a further optionover Mr Kilgannon's remaining shares at a price of 110p per share. The Companynow holds in treasury a total of 1,672,728 ordinary shares of 1p each and has inissue 28,179,725 ordinary shares of 1p each, excluding those held in treasury. The shares were purchased at a price of 110p per share, which the Board believesrepresents excellent value for shareholders. Placing these shares into treasurywill enable the Company to use them to facilitate future transactions withoutdiluting existing shareholdings. The Board also expects the buy back to improvethe Company's earnings per share. -ends- For further information, please contact: 2ergo Group 01706 221 777Neale Graham, Joint MDBarry Sharples, Joint MD Tavistock Communications 020 7920 3150Christian Taylor-WilkinsonMatt Ridsdale This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MXCP.L