Depa Limited: Depa commences Share Repurcha | Company Announcements

Friday 09 January, 2009

Depa Limited

Depa commences Share Repurcha

RNS Number : 3830L

Depa Limited

09 January 2009

Date: 9 January 2009

Depa commences Share Repurchase Programme

Depa Limited (ticker DEPA) ('Depa' or 'the Company'), the world's largest interior contractor, today confirms that it has completed the first set of transactions of its Share Repurchase programme. Depa purchased a total of 832,819 shares between 22 and 31 December at an average price of USD 0.51.

These transactions follow the Company's announcement on 26 November 2008 of its intention to undertake a Share Repurchase programme during a period of 12 months from 27 November 2008, as the Company's shareholders currently believe that the shares are significantly undervalued. This is the first buyback undertaken by the Company since the securities were listed on NASDAQ Dubai on 23 April 2008.

For further inquiries, please contact:

Depa Limited

Noor Sweid

Managing Director, Strategy

Tel: +971 4 224 3800

noor.sweid@depa.com

Brunswick Gulf Ltd

Azadeh Varzi

avarzi@brunswickgroup.com

Tel: + 971 4 365 8260

This information is provided by RNS

The company news service from the London Stock Exchange

END

POSSSUSWUSUSESF

Investegate takes no responsibility for the accuracy of the information within the site.

The announcements are supplied by the denoted source. Queries about the content of an announcement should be directed to the source. Investegate reserves the right to publish a filtered set of announcements. NAV, EMM/EPT, Rule 8 and FRN Variable Rate Fix announcements are filitered from this site.