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InterQuest Group plc Announces Share buy-back programme

InterQuest Group plc Announces Share buy-back programme

InterQuest announces that it intends to make use of the authority conferred on it to make on-market purchases of the Company's ordinary shares of 1 pence each ("Ordinary Shares").

The Board has examined the merits of share repurchases and believes that such repurchases will enable the Company to respond to volatile stock market conditions, help stimulate liquidity in the Company's shares and create additional value for the benefit of shareholders.

Any such purchases will be effected within the Company's general buy-back authority of up to 3,216,408 Ordinary Shares, as approved by shareholders at the Company's annual general meeting ("AGM") on 27 May 2010, and certain other pre-set parameters. The main parameter is that the maximum price which may be paid for such Ordinary Shares is 105% of the average of the middle market closing price of InterQuest's shares for the five business days preceding the date of purchase. As previously announced, since the authority was granted at the AGM, the Company purchased and cancelled 1,000,000 Ordinary Shares on 29 June 2010 and purchased and cancelled 117,989 Ordinary Shares on 3 December 2010.
The timing and quantum of any purchases will be determined by InterQuest in accordance with the above parameters and in consultation with its broker, finnCap Limited, with regard to prevailing market conditions and any other relevant considerations. Any purchases will be funded out of the Company's cash balances and available debt facilities.

Any shares purchased will be cancelled, held in treasury or held for the benefit of the Company's EMI scheme. The Company currently has 31,036,087 Ordinary Shares in issue.

The above figure, 31,036,087, may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FSA's Disclosure and Transparency Rules.

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