19th Dec 2005 14:13
Quadnetics Group PLC19 December 2005 Quadnetics Group plc Purchase of Own Shares Following the acquisition of Protec plc in an all-share offer, the Board ofQuadnetics Group plc ("Quadnetics") believes that the consolidated net cashbalances held by the Company are in excess of its immediate needs, although theamount of the excess is still under review in the light of investmentopportunities that may emerge to support the continuing growth of its Synecticsdigital security systems technology. The Board also believes that the current market price of Quadnetics' ordinaryshares undervalues the Company's prospects, and therefore the purchase by theCompany of its own shares represents an attractive financial investment, and anopportunity to increase earnings per share. Accordingly, Quadnetics announces that it has purchased in the market today37,731 of its own ordinary shares at a price of £2.00 under the authoritygranted at the recent annual general meeting. On completion of the purchases,these shares will be cancelled. The issued share capital following this purchaseis 15,425,848 shares. ENDS 19 December 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Synectics