SARS Sarossa

TIDMSARS

RNS Number : 2189L

Sarossa PLC

08 January 2016

Sarossa plc

("Sarossa" or the "Company")

Buy-back of shares

Sarossa, the Jersey based investment company involved in the growth and development of businesses, announces that, yesterday, 7 January 2016, it completed the buy-back of 34,295,000 ordinary shares of 1p each in the Company ("Shares") at an average price of 1.31 pence per share.

At the General Meeting of the Company held on 6 January 2016, the Company was granted authority to buy-back 81,518,446 Ordinary Shares. Following this transaction, the Company will have authority to buy-back a further 47,223,446 Ordinary Shares.

The Shares purchased by the Company are to be cancelled so that the Company's capital will consist of 509,161,309 Shares which is the same as the total number of voting rights in the Company, all of which are identical. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

The above buy-back of Shares was undertaken under a share buy-back authority approved by the Company's shareholders at the same time that they approved a resolution for the proposed cancellation of its Shares from admission to AIM. The cancellation will take effect on 1 February 2016 and the last day of dealing in the Shares will be 29 January 2016. As such, interests in Shares are unlikely thereafter to be readily capable of sale and where a buyer is identified, it may be difficult to place a fair value on any such sale.

Following the above buy-backs of Shares, the directors' percentage holdings in the Company, are now as follows:

 
Director             Number of Shares  Percentage 
-------------------  ----------------  ---------- 
Michael Bretherton   9,744,140         1.91% 
 

Sarossa Plc

Mike Bretherton, Chairman 01534 719760

WH Ireland Limited (Nominated adviser)

Chris Fielding, Head of Corporate Finance 0207 220 1650

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 08, 2016 02:00 ET (07:00 GMT)

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