Purchase of own shares and directors' dealings

20th January 2014

James Halstead plc ("James Halstead" or the "Company")

Purchase of own shares and directors' dealings

Background

For many years James Halstead has had an employee share incentive plan whereby the UK employees are gifted free shares annually which are held in trust for 5 years offering a tax free benefit to employees. On the fifth anniversary of the gift, the shares are transferred to employees who are then free to sell these shares.

 

At 30 June 2013, 1,337,398 shares were held in trust, representing 0.65% of the issued share capital with 532 participating employees.

 

The Company, this year, has offered to purchase the 2008 allocation of shares due to pass from the Trust to employees (the total number allocated at that time was 499,996 shares). The Company, having regard to its cash balances and the yield on the shares, believes that this is beneficial to those employees that wish to sell shares and, in addition, would minimise the number of small share sales over a short period.

Announcement of transaction in the Company's own shares

James Halstead announces that on 20^th January 2014 it acquired 135,000 Ordinary Shares of 5p each in the Company ("Ordinary Shares") from certain directors and employees at a price of £3.21 per Ordinary Share, being 5p above the average market price of an Ordinary Share on the five dealing days from 13 to 17 January 2013 inclusive. The following directors of the Company have taken up this offer:

Director	Number of Ordinary Shares	Price per Ordinary Share
Mr M Halstead	2,500	£3.21
Mr G Oliver	2,500	£3.21

In summary, 136 employees and directors holding 135,000 Ordinary Shares have taken up the offer. All such Ordinary Shares have been cancelled and the Company does not hold any Ordinary Shares in Treasury.

Following this announcement and the cancellation of the shares, the Company's capital consists of the following:

·    207,004,008 ordinary shares of 5p each with voting rights;

·    200,000 5.5% cumulative preference shares with no voting rights (except in the case that payment of a dividend is over six months in arrears); and

·    16,042,530 'B' shares of 1p each with no voting rights.

Therefore, the total number of voting rights in James Halstead is 207,004,008.

Enquiries:

David Drillingcourt

Group Company Secretary

James Halstead plc                                                                               0161 767 2500

 

Altium

Ben Thorne                                                                                          0207 484 4040

Paul Chamberlain