Ocean Outdoor Limited Purchases of shares during open periods (5134T)
March 21 2019 - 3:01AM
UK Regulatory
TIDMOOUT
RNS Number : 5134T
Ocean Outdoor Limited
21 March 2019
Ocean Outdoor Limited
Purchases of shares during open periods
Ocean Outdoor Limited (the "Company") announces that it has
entered into an arrangement with Barclays Bank PLC, acting through
its investment bank ("Barclays") to commence a discretionary share
buyback programme to purchase up to an aggregate amount of
$25,000,000 of the Company's ordinary shares of no par value. The
arrangement allows Barclays to purchase up to 5,000,000 ordinary
shares in the Company during open periods of the Company arising
between the date hereof and 30 September 2019.
Any share purchases effected pursuant to the arrangement will be
subject to the terms of the arrangement with Barclays and in any
case will be effected in a manner consistent with both the general
authority vested in the Company to repurchase ordinary shares and
the price limits of Regulation (EU) No 596/2014 of 16 April 2014
(as amended) in relation to market abuse which requires that the
maximum price paid be limited to not higher than the higher of the
price of the last independent trade and the highest current
independent bid on the trading venue where the purchase is carried
out. The aggregate purchase price under this arrangement will not
exceed $25,000,000.
The sole purpose of these share purchases is to reduce the
Company's share capital. Any ordinary shares purchased by the
Company will be held in treasury.
Further information can be found on the Company's website:
www.oceanoutdoor.com
Ocean Outdoor 020 7292 6161
Tim Bleakley, CEO
Stephen Joseph, CFO
Yellow Jersey PR 07747 788 221
Charles Goodwin, Georgia Colkin,
Joe Burgess
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END
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