3rd May 2005 07:00
2 ergo Group plc03 May 2005 Embargoed until 7am 3 May 2005 2ergo Group plc ("2ergo" or "the Company") Share Buy Back Following approval of the share buy back agreement (the "Agreement") by theCompany's shareholders at the Annual General Meeting of the Company held on 7April 2005, the Company is pleased to announce that 718,182 ordinary shares of1p each in the issued share capital of the Company were purchased on 29 Aprilfrom Michael Kilgannon pursuant to the Agreement and that the said shares are tobe held in treasury. Following this purchase of shares, Michael Kilgannon now holds 1,781,818ordinary shares of 1p each, representing 6.3 per cent of the Company's issuedshare capital (excluding shares held in treasury). The Company also holds afurther option over Mr Kilgannon's remaining shares at a price of 110p pershare. The Company holds in treasury a total of 718,182 ordinary shares of 1peach. 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-WilkinsonPaul Dulieu This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MXCP.L