31st Dec 2009 12:45
Schroders plc (the "Company") announces that it has commenced a non-discretionary programme to purchase non-voting ordinary shares for cancellation or for holding in treasury during its close period which commences on 1 January 2010 and is scheduled to end on 4 March 2010.
The buy back programme will be managed by an independent third party, which makes its trading decisions independently of, and uninfluenced by, the Company.
Any acquisitions 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 be limited to no more than 5 per cent above the average market value for the shares as derived from the London Stock Exchange Daily Official List for the five business days immediately prior to such purchase.
The Company confirms that it currently has no unpublished price sensitive information.
END
Related Shares:
Schroders