29th Mar 2005 16:42
Next PLC29 March 2005 Next plc Off-market purchases by way of contingent purchase contract by the Company ofordinary shares for cancellation Next plc announces that, pursuant to the contingent forward purchase contract itentered into with Goldman Sachs International on 13 December 2004, it has todaypurchased 50,000 ordinary shares for cancellation at a price of 1573.6 pence pershare. A J R McKinlayCompany SecretaryNext plc Editorial note: Under the contingent contract, the Company may purchase a fixed number of shareseach week (other than in the weeks commencing 20, 27 December 2004 and 4 January2005), in the period to 11 July 2005, at a fixed price that is at a discount tothe market price prevailing at the start of the contract period. The contract iscontingent in that it would terminate early, and no further shares would bepurchased, if the Company's share price increases to a pre-determined suspensionlevel during the contract period. This suspension level has been set at thestart of the contract and is between 104% and 110% of the Company's share priceat the start of the contract. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Next