Schroders Starts Program To Buy Non Voting Ordinary Shares

1st Jul 2010 10:29

LONDON (Dow Jones)--Schroders PLC (SDR.LN), a global asset management company, said Thursday it has commenced a non-discretionary program to purchase non-voting ordinary shares for cancellation or for holding in treasury during its close period which commenced on July 1 and is scheduled to end on Aug. 4. MAIN FACTS: -The buy back program will be managed by an independent third party, which makes its trading decisions independently of, and uninfluenced by, the company. -Shares at 0927 GMT down 43 pence or 3.5%, at 1169 pence, valuing the company at GBP2.64 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 01, 2010 05:29 ET (09:29 GMT)