Business
Buy back programme
Buy back programme.
About this update from Character Group Plc
[{"type":"text","content":"\n RNS Number : 1891G Character Group PLC 27 January 2010 \nDate: Wednesday, 27 January 2010\n\nThe Character Group plc\n('Character' 'Company ' or 'Group')\ndesigners, developers and international distributors of toys, games and gifts\n\n\nFollowing the Company's AGM held on 20 January 2010 and approval given by shareholders to renew the authority for the Company to buy back up to 25% of the outstanding ordinary shares of 5 pence each (\"Ordinary Shares\") in the Company (excluding Ordinary Shares held in treasury), the Board has, after careful consideration, concluded that it would be appropriate to recommence its programme of share buy backs.\n\nThe purchase of shares will be made by the Company through the market on a first come first served basis. It will be open to all shareholders to participate up to the £5million limit. It is intended that the programme will run for a maximum period of three weeks from the date of this announcement, unless the target purchases are achieved sooner.\n\nIn the event that the Company is not able to buy back sufficient shares in the market to meet its target, the executive directors have indicated that they (or their related parties) may sell some of their shares to help achieve the Board's objective.\n\nIn the event that some or all of the executive directors or their related parties decide to participate in the programme of share buy backs then this may be treated as a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. This will, amongst other things, require the independent directors of the Company to consult with Charles Stanley Securities, as the Company's nominated adviser, in order to consider whether such participation is considered to be fair and reasonable insofar as its shareholders are concerned.\n\n\n\n\n\n\n\n\nEnquiries:\n\n\n \n\n\n\n\nRichard King, Chairman\n\n\nFiona Tooley\n\n\nRichard Thompson\n\n\n\n\nKiran Shah, Group Finance Director & Joint MD\n\n\nKeith Gabriel\n\n\nPhilip Davies\n\n\n\n\n \n\n\n \n\n\nCarl Holmes \n\n\n\n\nThe Character Group plc\n\n\nCitigate Dewe Rogerson\n\n\nCharles Stanley Securities\n\n\n\n\nMobile: +44 (0)7836 250150 (RK)\n\n\nMobile: +44 (0)7785 703523 (FT)\n\n\n(Nominated Adviser)\n\n\n\n\nMobile: +44 (0)7956 278522 (KS)\n\n\nTel: +44 (0)121 362 4035\n\n\nTel: +44 (0...