23rd Oct 2007 07:01
Persimmon PLC23 October 2007 Persimmon plc: Notice of Share Buyback Persimmon announces that on Monday 22 October 2007 it repurchased 250,000 sharesto be held in treasury at an average price of 952.57 pence per share. The Board has decided to implement a limited share buyback programme, within theauthority granted to it by shareholders at the Annual General Meeting in April. The Board consider that the recent weakness in share prices of companies withinthe housebuilding sector has provided an attractive opportunity for the Companyto purchase its own shares. The Board expects that purchases will continue tobe made by the Company on an opportunistic basis. Following the above purchases, Persimmon holds 250,000 shares in treasury andthe total number of ordinary shares in issue (excluding treasury shares) is302,339,247. John White, Chairman commented: "The recent fall in the Persimmon share pricehas prompted us to initiate a share buyback. We remain confident of the growthopportunities available to us as a business notwithstanding the tougher macroeconomic conditions currently in place. We continue to be totally focussed oncreating value for shareholders and growing our business, and we have a verystrong balance sheet which gives us considerable flexibility. We intend to be flexible and opportunistic on the buyback for the rest of thisyear. The buyback will not alter any of the current investment plans that wehave for Persimmon. " For further information please contact: Persimmon plc M: Communications Mike Farley, Group Chief Executive Edward Orlebar+44 (0) 1904 642199 +44 (0) 207153 1523/ [email protected] [email protected] Mike Killoran, Group Finance Director+44 (0) 1904 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Persimmon