Purchases Of Shares In Close Period
BHP Billiton announced today that BHP Billiton Limited (“BHP Billiton” or the “Company”) would continue the current on-market buyback of BHP Billiton Plc shares during the close period, from 1 July 2007 to 22 August 2007.
The Company has entered into an irrevocable arrangement with an independent third party which makes its trading decisions in relation to the securities of the Company and BHP Billiton Plc independently of, and uninfluenced by, the Company or BHP Billiton Plc, to purchase on the Company’s behalf and within certain pre-set parameters, ordinary shares in BHP Billiton Plc during the period commencing on 1 July 2007 and ending upon the announcement of the Company’s final results for the full year ended 30 June 2007. These share purchases will be made on the Company’s behalf and in accordance with the irrevocable arrangement during a so-called “Close Period”, a period in which the Company and its directors, officers and employees would normally otherwise refrain from transacting in BHP Billiton shares.
Any share purchases effected pursuant to the irrevocable arrangement will be effected in a manner consistent with both the general authority vested in BHP Billiton Plc to repurchase shares and Chapter 12 of the Listing Rules, which require that the maximum price paid be limited to no more than 105 per cent of the average middle market closing price of BHP Billiton Plc’s Ordinary Shares for the five dealing days preceding the date of purchase.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.