SCISYS PLC Share Buy-Back Programme (7684D)
May 02 2017 - 2:00AM
UK Regulatory
TIDMSSY
RNS Number : 7684D
SCISYS PLC
02 May 2017
SCISYS PLC ("SCISYS")
(AIM: SSY)
Share Buy-Back Programme
SCISYS PLC ("SCISYS"; AIM SSY), the supplier of bespoke software
systems, IT-based solutions and support services to the Media &
Broadcast, Space, Government, Defence and Commercial sectors,
announces that it is to commence a GBP250,000 buyback programme to
repurchase ordinary shares of 25 pence each in the capital of
SCISYS ("Ordinary Shares" and the "Programme"). The Programme will
be managed by finnCap Limited ("finnCap") and its sole purpose is
to mitigate the dilutory effect of expected share option exercises
by employees of SCISYS.
SCISYS announces that it has entered into an irrevocable,
non-discretionary arrangement with finnCap in relation to the
Programme and that finnCap will make its trading decisions
concerning the timing of the purchases of Ordinary Shares
independently of and uninfluenced by SCISYS.
The Programme commences on 2 May 2017 and will continue, subject
to the renewal of the Company's buy-back authority resolution at
the AGM to be held on 8 June 2017, until no later than 20 July
2017. Purchases may continue during any prohibited periods (as
defined by MAR) of SCISYS which may fall during this period.
During the course of the Programme, SCISYS will make further
notifications to the market as and when share purchases are
made.
Ordinary Shares purchased as part of the Programme will be held
as treasury shares. The number of Ordinary Shares purchased under
the Programme will not exceed
1) prior to 8 June 2017, the maximum number of Ordinary Shares
permitted to be purchased under the authority to purchase shares in
SCISYS granted by shareholders at SCISYS' 2016 Annual General
Meeting, being 2,875,275 shares; and
2) following 8 June 2017, the maximum number of Ordinary Shares
permitted to be purchased under the authority to purchase shares in
SCISYS to be proposed at SCISYS' 2017 Annual General Meeting, on 8
June 2017 being 2,873,538 shares.
For further information please contact:
+44 (0)1249 466
SCISYS PLC 466
------------------------------------------ --------------------------
Mike Love Chairman
--------------------- ------------------- --------------------------
Klaus Heidrich Chief Executive
Officer
--------------------- ------------------- --------------------------
Chris Cheetham Finance Director
--------------------- ------------------- --------------------------
finnCap (NOMAD
& Broker) +44 (0)20 7220 0500
------------------------------------------ --------------------------
Julian Blunt Corporate Finance
--------------------- ------------------- --------------------------
Walbrook PR +44 (0)20 7933 8780
------------------------------------------ --------------------------
Tom Cooper/Paul
Vann +44 (0)797 122 1972
------------------------------------------ --------------------------
tom.cooper@walbrookpr.com
----------------------------------------- --------------------------
About SCISYS:
Employing around 500 staff, SCISYS group is a leading developer
of Information and Communications Technology services, e-Business,
web and mobile applications, editorial newsroom solutions and
advanced technology solutions. The Company operates in a broad
spectrum of market sectors including Media & Broadcast, Space,
Government and Defence and Commercial sectors. SCISYS clients are
predominantly blue chip and public sector organisations. Customers
include the Environment Agency, the Ministry of Defence, Airbus
Defence & Space, Arqiva, Vodafone, the European Space Agency,
Eumetsat, the BBC, RNLI, AON, Interflora and the National Trust.
The Company has UK offices in Chippenham, Bristol, Leicester and
Reading and German offices located in Bochum, Darmstadt and Munich.
More information is available at www.scisys.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
POSLLFSESLITFID
(END) Dow Jones Newswires
May 02, 2017 02:00 ET (06:00 GMT)
Scisys (LSE:SSY)
Historical Stock Chart
From Apr 2024 to May 2024
Scisys (LSE:SSY)
Historical Stock Chart
From May 2023 to May 2024