MayAir Group PLC Transaction in Own Shares (8683K)

TIDMMAYA

RNS Number : 8683K

MayAir Group PLC

27 September 2016

 
 For Immediate Release   27 September 2016 
 

MayAir Group plc

("MayAir" or the "Group")

Transaction in Own Shares

MayAir Group plc (AIM:MAYA), a leading specialist provider of air purification technology, announces that on 26 September 2016, the Group purchased through Cantor Fitzgerald Europe 35,000 ordinary shares of no par value ("Ordinary Shares") at an average price of 74.86 pence per share. The purchased shares will be held as treasury shares.

Following the above purchase, the Group holds 285,000 Ordinary Shares in treasury. The total number of Ordinary Shares in issue (excluding treasury shares) is 42,190,000. Therefore, the total number of voting rights in the Company is 42,190,000 which may be used by shareholders as the denominator by which they will determine if they are required to notify their interest in, or a change to their interest in, MayAir under the FCA's Disclosure and Transparency Rules.

As disclosed in the Company's interim results for the period ended 30 June 2016, the Company has resolved to reinitiate its buy-back programme as the close period under Regulation (EU) No 596/2014 (the Market Abuse Regulation) has ended.

In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the schedule below contains a summary of and detailed information about the purchases made by Cantor Fitzgerald Europe on behalf of the Group as part of the buy-back programme.

Schedule 1: Summary of buy-back transactions

 
 Date of purchase:            26 September 2016 
---------------------------  ------------------ 
 Number of Ordinary Shares 
  purchased:                  35,000 
---------------------------  ------------------ 
 Highest price paid per 
  share (pence):              75.00 
---------------------------  ------------------ 
 Lowest price paid per 
  share (pence):              74.50 
---------------------------  ------------------ 
 Average price paid per 
  share (pence):              74.86 
---------------------------  ------------------ 
 

Schedule 2: Details of buy-back transactions

 
 Time (hh:mm -   Number of Ordinary   Transaction price 
  GMT)            Shares purchased     (pence per share) 
--------------  -------------------  ------------------- 
 10:36           25,000               75.00 
--------------  -------------------  ------------------- 
 12:58           10,000               74.50 
--------------  -------------------  ------------------- 
 

- Ends -

For further information:

 
 MayAir Group plc 
 Yap Wee Keong, Chief Executive              Tel: [phone] 
  Officer                                               2908 
 Koh Tat Seng, Chief Financial           www.mayairgroup.com 
  Officer 
 
 Allenby Capital Limited (Nominated          Tel: +44 (0) 20 
  Adviser)                                         3328 5656 
 David Hart / James Reeve             www.allenbycapital.com 
 
 Cantor Fitzgerald Europe                    Tel: +44 (0) 20 
  (Broker)                                         7894 7000 
 Andrew Craig / Richard Salmond               www.cantor.com 
 
 Media enquiries: 
 Buchanan 
 Henry Harrison-Topham / Victoria            Tel: +44 (0) 20 
  Hayns / Jane Glover                              7466 5000 
 [e-mail]                  www.buchanan.uk.com 
 

Notes to Editors

Founded in 2001, MayAir Group is a leading specialist provider of air purification technology for use in industrial cleanrooms, supplying large multinational manufacturers including Sony, Continental and Bosch. The Group's core business is in providing Fan Filter Units ("FFUs") air filtering equipment for use in industrial cleanrooms, an area in which MayAir has established itself as one of the leading providers in China.

In recent years, the Group has diversified its product offering to include indoor clean air solutions for the commercial and residential markets. Key flagship commercial projects so far include Shanghai airport terminals, Shanghai International Convention Centre, SOHO Galaxy office development in Beijing and Chengdu's Subway. MayAir is well positioned to take advantage of the growing demand for air purification technology and in the year to 31 December 2015, the Group reported record figures with revenue rising by 45% to US$63.6 million and underlying operating profit rising by 16% to US$8.1 million. MayAir Group admitted to trading on AIM in May 2015 with the ticker MAYA.L.

For additional information please visit: www.mayairgroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 27, 2016 02:00 ET (06:00 GMT)