Last checked at 25 Jun 2008 17:00
Next plc
Off-market purchases by way of contingent purchase contract by the Company of ordinary shares for cancellation
Next plc announces today that, pursuant to the contingent forward purchase contract it entered into with Goldman Sachs International on 5 December 2007, it has today purchased 50,000 ordinary shares for cancellation at a price of 1552.67 pence per share.
A J R McKinlay
Company Secretary
Next plc
Editorial note:
Under the contingent contract, the Company may purchase a fixed number of shares each week in the period to 2 July 2008 (excluding 19 and 26 December 2007 and 2 January 2008), 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.