13th Oct 2005 17:05
Next PLC13 October 2005 Next plc Off-market purchases by way of contingent purchase contract by the Company ofordinary shares for cancellation Next plc announces today that, pursuant to the authority granted at the AnnualGeneral Meeting of the Company's shareholders on 18 May 2005, it has enteredinto a contingent forward purchase contract with Goldman Sachs International on13 October 2005 under which it may acquire up to a maximum of 1,350,000 ordinaryshares for cancellation at a price of 1242.00 pence per share in the period upto 11 May 2006. This announcement does not constitute, or form part of, an offer or anysolicitation of an offer for securities in any jurisdiction. A J R McKinlayCompany SecretaryNext plc Editorial note: Under the contingent contract, the Company may purchase a fixed number of shareseach week in the period to 11 May 2006 (excluding 22 and 29 December 2005 and 5January 2006), at a fixed price that is at a discount to the market priceprevailing at the start of the contract period. The contract is contingent inthat it would terminate early, and no further shares would be purchased, if theCompany's share price increases to a pre-determined suspension level during thecontract period. This suspension level has been set at the start of the contractand is between 104% and 110% of the Company's share price at the start of thecontract. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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