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SPH buys 1.2m shares - Aug 08, 2006 (BT)

BackAug 08, 2006

The Straits Times / The Business Times News On SPH

SPH buys 1.2m shares




Aug 08, 2006
The Business Times

SINGAPORE Press Holdings (SPH) has bought back 1.21 million shares from the open market for a total of $4.7 million. The media group bought the shares for $3.88 each yesterday - the same price as the counter's closing price on Friday.

Yesterday's buy-back is SPH's second since its annual general meeting in December last year, when the company received a mandate from shareholders allowing it to buy back up to 10 per cent of its shares. On May 22, SPH announced that it bought back 1.79 million shares from the open market for a total of $7.32 million, paying between $4.06 and $4.10 apiece.

So far, the company has bought three million shares. Yesterday's statement from SPH put the total number of shares it is authorised to purchase at about 157.5 million. SPH's stock closed unchanged at $3.88 yesterday, with 5.9 million shares traded.