The Company announces that it has appointed an independent third party to purchase, on the Company's behalf and within certain pre-set parameters, ordinary shares in the Company during the period commencing on 18 July 2008 and ending on the publication of the Company's half-yearly financial report for the period ending 30 June 2008 or, if earlier, termination of the appointment. During this period the Company would normally otherwise be prohibited from transacting in the Company's ordinary shares. Such third party will make its trading decisions in relation to the ordinary shares of the Company independently of, and uninfluenced by, the Company. 

 

Any share purchases effected pursuant to the appointment will, in any case, be effected in a manner consistent with the general authority vested in the Company to repurchase shares which requires that the maximum price per share paid be limited to no more than 105 per cent of the average middle market closing price of the Company's ordinary shares for the five dealing days preceding the date of purchase.  Any purchases effected pursuant to this appointment, will be announced in accordance with the AIM Rules for Companies.

 

 

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