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Transaction in Own Shares

26th Jan 2016 17:13

RNS Number : 0775N
Tangent Communications PLC
26 January 2016
 

Tangent Communications plc ("Tangent" or the "Company")

Transaction in Own Shares

 

Tangent (AIM: TNG) announces that pursuant to the Company's employee Share Incentive Plan ("SIP"), announced on 10 February 2014, it has today transferred 153,077 ordinary shares of 1 pence each ("Ordinary Shares") out of treasury to satisfy the monthly Matching Shares for participants in the SIP.

The SIP, which became effective from 1 March 2014, is an all-employee trust arrangement approved by UK HM Revenue and Customs under which employees are able to buy ordinary shares in Tangent ("Partnership Shares") using monthly deductions from salary and to receive allocations of free matching Tangent shares on a one-for-one basis ("Matching Shares").

Following above transfer, the Company continues to have 281,429,851 Ordinary Shares in issue of which 3,791,923 are now held in treasury. The number of Ordinary Shares with voting rights ("Voting Rights") is therefore now 277,637,928.

The above figure of 277,637,928 Voting Rights may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company, under the Disclosure and Transparency Rules.

 

Tangent Communications plcTimothy Green - Chief Executive: 020 7462 6101Jamie Beaumont - Chief Financial Officer: 020 7462 6101

Canaccord Genuity Limited - Nominated adviser and broker

Bruce Garrow / Emma Gabriel: 020 7523 8350

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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