Transactions by FUTURE PLC (FUTR) in the last 6 months

Team Rock Limited signed an agreement to acquire Classic Rock and Metal Hammer from Future PLC (LSE:FUTR) for £10.2 million in cash on April 2, 2013. The sale will be made on a cash-free and debt-free basis. As well as Classic Rock and Metal Hammer magazines, the sale includes associated periodicals Prog and AOR, as well as branded events The Golden Gods and The Classic Rock Roll of Honour. TeamRock secured the funding for the deal from Harwood Private Equity. For ... the year ended September 30, 2012, Classic Rock and Metal Hammer posted revenue of £8.6 million. The deal is expected to be closed on April 16, 2013. Existing jobs at Classic Rock and Metal Hammer in London will not be affected. The net sale proceeds will be used to reduce the level of bank debt and provide additional headroom under the Future's new credit facility for further strategic digital investment. Jon Coles and Andy Rivett-Carnac of Brunswick Group acted as public relations advisors and Lorna Tilbian, Nick Westlake and Mark Lander of Numis Securities acted as financial advisors and brokers to Future PLC. Hugo Montgomery of Trillium Partners acted as financial advisor to TeamRock for the raising of financing and the acquisition of the brands. Ian Lopez, Brian Butterwick, Olivia Cox, James Parkinson, Mike Knapper, George Cameron, Nick Howard, Ed Hunnisett, Dominic Stuttaford and Andrew Roycroft of Norton Rose LLP acted as legal advisors for Future PLC.
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The shareholders of Future PLC (LSE:FUTR) authorized a share repurchase program at its Annual General Meeting on February 4, 2013. Under the program, Future will repurchase up to 33,300,000 shares, representing 10% of its issued share capital. The minimum price payable per ordinary share is one penny and the maximum price which may be paid for such ordinary shares shall not be more than the higher of an amount equal to 5% above the average of the market values for an ... ordinary share as derived from the London Stock Exchange’s Daily Official List for the five business days immediately preceding the date on which the ordinary shares are purchased and the amount stipulated by Article 5(1) of the buyback and Stabilisation Regulation 2003. Unless previously renewed, varied or revoked, the share repurchase program shall expire at of the conclusion of the next Annual General Meeting or March 31, 2014, whichever is earlier. As of December 14, 2012, the company has 333,139,612 shares in issue.
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