5th Apr 2006 07:00
Greggs PLC05 April 2006 Greggs plc ("the Company") Transaction in Own Shares Further to the Company's recent statement that it was considering plans for theuse of its surplus cash, the Company yesterday purchased through UBS Limited100,000 ordinary shares in the Company for cancellation under its existingbuyback authority. The price paid was £39.00 per share. The Company's aim is to achieve a more efficient balance sheet structure byreducing its surplus net cash balances, and therefore the Company expects tocontinue a buyback programme for the medium term. In connection with this theCompany will seek renewal and extension of its buyback authority at its AGM on10 May 2006. As at 31 December 2005, the Company's net cash balances stood at £65.6 million,although these were recently reduced by the previously announced acquisition of439,829 shares by the trustees of the Greggs Employee Benefits Trust for £16.3million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Greggs