The shareholders of Diploma PLC (LSE:DPLM) authorized a share repurchase program at its Annual General Meeting on January 16, 2012. Under the program, Diploma will repurchase up to 11,323,956 shares, representing 10% of its issued capital as of December 6, 2012. The minimum price which may be paid per ordinary share will be £0.05, exclusive of expenses.

The maximum price which may be paid for any ordinary share will be equal to the higher of, either an amount equal to 105% of the average of the middle market quotations for the ordinary shares of the company as derived from the Daily Official List of the London Stock Exchange plc for the five business days immediately preceding the day on which such share is contracted to be purchased, or the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out. The program will expire at the conclusion of the next Annual General Meeting in 2014 or on April 16, 2014, whichever is earlier, unless previously renewed, varied or revoked by the company in a general meeting. As of December 6, 2012, the company has 113,239,555 shares in issue.