Ashtead Group PLC Purchase of Shares

 
TIDMAHT 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF 
THE MARKET ABUSE REGULATION (EU) 596/2014.  UPON THE PUBLICATION OF THIS 
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC 
DOMAIN. 
 
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN 
OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY 
SECURITIES IN ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL. 
 
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE 
OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A 
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. 
 
ASHTEAD GROUP PLC - PURCHASES OF SHARES 
 
Ashtead Group plc (the "Company") announces that it has entered into an 
arrangement with Barclays Bank PLC, acting through its Investment Bank (" 
Barclays"). The arrangement allows Barclays to purchase, together with any 
other ordinary shares in the Company (the "Shares") purchased on the Company's 
behalf pursuant to its buyback programme, up to: (a) prior to the expiration of 
the Company's current buyback authority granted by shareholder resolution dated 
12 September 2017, 74,833,934 Shares; and (b) following such expiration, the 
aggregate number of Shares authorised to be purchased by the Company under any 
subsequent buyback authority granted during the arrangement (which in any event 
shall be less than 15% of the relevant class of the Company's equity shares at 
the date of such authority) during the period commencing the date hereof and 17 
June 2019. These share purchases will be made on the Company's behalf and in 
accordance with the arrangement and, in the case of any purchases made during 
closed periods, shall be made independently of and uninfluenced by the Company. 
 
Any share purchases effected pursuant to the arrangement will be subject to the 
terms of the arrangement with Barclays and in any case will be effected in a 
manner consistent with both the general authority vested in the Company to 
repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which 
require that the maximum price paid be limited to be no more than the higher of 
(i) 105 per cent of the average middle market closing price of the Company's 
ordinary shares for the five business days before the purchase is made and (ii) 
the higher of the price of the last independent trade and the highest current 
independent bid on the trading venue where the purchase is carried out. The 
aggregate purchase price under this arrangement, together with any other Shares 
purchased on the Company's behalf pursuant to its buyback programme, will not 
exceed GBP1 billion. 
 
The sole purpose of these share purchases is to reduce the Company's share 
capital. 
 
Further information on the Company can be found on our Internet site: 
www.ashtead-group.com 
 
IMPORTANT NOTICE 
 
Barclays, which is authorised by the Prudential Regulation Authority and 
regulated in the United Kingdom by the Financial Conduct Authority and the 
Prudential Regulation Authority, is acting exclusively for the Company and no 
one else in connection with the buyback programme and will not be responsible 
to anyone other than the Company for providing the protections afforded to 
clients of Barclays nor for providing advice in relation to the buyback 
programme or any other matter referred to in this announcement. 
 
 
 
END 
 

(END) Dow Jones Newswires

December 14, 2017 05:18 ET (10:18 GMT)