Business
Transaction in Own Shares
Transaction in Own Shares.
About this update from Synectics Plc
[{"type":"text","content":"\n Quadnetics Group PLC\n19 December 2005\n\n\n Quadnetics Group plc\n\n Purchase of Own Shares\n\n\nFollowing the acquisition of Protec plc in an all-share offer, the Board of\nQuadnetics Group plc ('Quadnetics') believes that the consolidated net cash\nbalances held by the Company are in excess of its immediate needs, although the\namount of the excess is still under review in the light of investment\nopportunities that may emerge to support the continuing growth of its Synectics\ndigital security systems technology.\n\nThe Board also believes that the current market price of Quadnetics' ordinary\nshares undervalues the Company's prospects, and therefore the purchase by the\nCompany of its own shares represents an attractive financial investment, and an\nopportunity to increase earnings per share.\n\nAccordingly, Quadnetics announces that it has purchased in the market today\n37,731 of its own ordinary shares at a price of £2.00 under the authority\ngranted at the recent annual general meeting. On completion of the purchases,\nthese shares will be cancelled. The issued share capital following this purchase\nis 15,425,848 shares.\n\nENDS\n\n19 December 2005\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":1548,"tagName":"div"}]