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SThree plc (STHR:LSE) continues to announce small purchases of its own shares. The thirtieth time it has done so since the beginning of October. The firm in total has accumulated nearly 2% of its share capital since the beginning of November 2011, for distribution to its directors and employees as part of the Group's LTIPs, SAYE, SIP and Tracker Share model (previously referred to as the "Minority Interest model"), which has been described as a key differentiator in terms of attracting senior talent to the business, as well as a significant retention tool for existing management. SThree in total have purchased 23,387,360 shares or 18.95% of the current share capital since they began the buy backs, albeit this also includes shares for cancellation as well as share plans.
Speaking to Staffing Industry Analyst's Steve Hornbuckle, Group Company Secretary said: SThree's policy has always been to encourage its employees to build a stake in the Company and share in the Group's growth strategy and we regard our Tracker Share and other share plans as a key mechanism to achieve this'.
SThree is a multi-brand business model, specialising in Accountancy & Finance, Banking, Engineering & Energy, and Pharmaceuticals & Biotechnology, as well as their original field of ICT. The company was founded in 1986 and has four principal brands: Computer Futures, Huxley Associates, Progressive and Real Staffing Group. The Company operates in three geographical segments: the United Kingdom and Ireland, Continental Europe and the Rest of the World.
In trading this morning SThree PLC share price was unchanged at % down at 302 pence, 13.16% below its 52-week high of 347.75, set on 1st May, 2012 but 38% above a year ago. This means the company is valued at £366 million.