Intercede Group PLC Share Buyback Programme (4333X)
13 Januar 2014 - 8:00AM
UK Regulatory
TIDMIGP
RNS Number : 4333X
Intercede Group PLC
13 January 2014
Intercede Group plc ("Intercede" or "the Company")
Share Buyback Programme
Intercede announces its intention to commence a share buyback
programme (the "Buyback Programme") to acquire up to 250,000
Intercede ordinary shares as and when they become available at
volumes and prices that, from time to time, the Board considers
appropriate.
The Board intends that any shares acquired pursuant to the
Buyback Programme will be held in treasury and used for the
purposes of a Share Incentive Plan (SIP) that is in the process of
being established for all UK employees. Any shares acquired
pursuant to the Buyback Programme will be immediately notified to a
Regulatory Information Service in accordance with the AIM Rules for
Companies.
Any acquisitions will be effected in accordance with the
Company's general authority to buy back shares and within certain
set parameters, including that the maximum price paid per share is
to be no more than 105% of the average middle market price of an
Intercede share for the five business days preceding the date of
acquisition.
In addition, given the liquidity in the Company's shares, the
Company may buy back in any one day more than 25% of the average
daily volume over the preceding 20 business days.
Intercede confirms that it currently has no unpublished price
sensitive information.
Richard Parris, Intercede Chairman and Chief Executive, said:
"This SIP is being introduced at a time when Intercede's business
is rapidly expanding and competition for staff in the IT
recruitment market is stronger than ever before. As a result it is
important to use all cost effective means possible to continue to
attract and retain world-class employees."
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558111
Andrew Walker, Finance Director
FinnCap Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking
Pelham Bell Pottinger Tel. +44 (0)20 7861 3112
Archie Berens
About Intercede
Intercede is a software company specialising in identity and
credential management with a global team of experts located in the
US and UK.
Intercede's MyID identity and credential management software
enables organisations to create and use trusted digital identities
for employees, citizens and machines. This allows secure access to
services, facilities, information and networks.
MyID meets the highest government standards yet is simple enough
to be deployed onto consumer devices such as smart phones and
tablets. Critically, MyID provides an easy, convenient and secure
alternative to passwords.
Millions of identities are managed using MyID and Intercede has
provided identity verification and management services to global
customers for more than 20 years. MyID is a commercial off the
shelf software product, designed and developed to be configurable
so it can be embedded as the cornerstone of cyber security
infrastructure for governments and corporations.
Customers trusting Intercede for secure digital identity include
the US and UK governments and some of the world's largest
corporations, telecommunications providers and information
technology partners.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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