Off-market purchases by way of contingent purchase contract by the Company of ordinary shares for cancellation and transaction in own shares
Next plc announces today that, pursuant to the contingent forward purchase contract it entered into with UBS AG on 18 September 2013, it has today purchased 10,000 ordinary shares for cancellation at a price of 4898.0465 pence per share.
In addition to the above transaction the Company has purchased a further 81,059 of its ordinary shares for cancellation at a price of 5131.0605 pence per shares.
Following these purchases, the Company's registered share capital consists of 156,819,596 ordinary shares of 10 pence each. All of the ordinary shares have equal voting rights and there are no shares held in Treasury. This figure may be used by shareholders to determine if they are required to notify their interest, or a change to their interest, in Next plc under the FSA's Disclosure and Transparency Rules.
A J R McKinlay
Under the contingent contract,the Company may purchase a fixed number of shares each week in the period to 16 April 2014, at a fixed price that is at a discount to the market price prevailing at the start of the contract period. The contract is contingent in that it would terminate early, and no further shares would be purchased, if the Company's share price increases to a pre-determined suspension level during the contract period. This suspension level has been set at the start of the contract and is between 104% and 110% of the Company's share price at the start of the contract.