Quadnetics Group PLC
19 December 2005
Quadnetics Group plc
Purchase of Own Shares
Following the acquisition of Protec plc in an all-share offer, the Board of
Quadnetics Group plc ('Quadnetics') believes that the consolidated net cash
balances held by the Company are in excess of its immediate needs, although the
amount of the excess is still under review in the light of investment
opportunities that may emerge to support the continuing growth of its Synectics
digital security systems technology.
The Board also believes that the current market price of Quadnetics' ordinary
shares undervalues the Company's prospects, and therefore the purchase by the
Company of its own shares represents an attractive financial investment, and an
opportunity to increase earnings per share.
Accordingly, Quadnetics announces that it has purchased in the market today
37,731 of its own ordinary shares at a price of £2.00 under the authority
granted at the recent annual general meeting. On completion of the purchases,
these shares will be cancelled. The issued share capital following this purchase
is 15,425,848 shares.
ENDS
19 December 2005
This information is provided by RNS
The company news service from the London Stock Exchange