Character Group PLC Share buy-backs (3538K)
September 20 2016 - 9:50AM
UK Regulatory
TIDMCCT
RNS Number : 3538K
Character Group PLC
20 September 2016
The Character Group plc
("Company")
Share buy-backs
20 September 2016
The Company was granted an authority to buy-back issued ordinary
shares of 5 pence each in the Company ("Ordinary Shares") at the
Annual General Meeting of the Company held on 22 January 2016 (the
"Authority"). Prior to the date of this announcement, the Company
has effected share buy-backs pursuant to the Authority in respect
of a total of 45,000 Ordinary Shares and currently has an
un-utilised capacity under the Authority to buy-back up to a
further 3,083,700 issued Ordinary Shares. The buy-back will end,
unless terminated earlier, on 20 January 2017 and the maximum
amount of money allocated to the share buy-back at this stage is
GBP5 million.
The Company remains committed to its previously stated objective
to enhance shareholder value and reserves the right to exercise the
Authority and effect further buy-backs if, in the opinion of the
directors, such action would further enhance shareholder value.
Due to the limited liquidity in the issued Ordinary Shares, a
buy-back of Ordinary Shares pursuant to the Authority on any
trading day is likely to represent a significant proportion of the
daily trading volume in the Ordinary Shares on the AIM market of
the London Stock Exchange and is likely to exceed 25 per cent of
the average daily trading volume, being the limit laid down in
Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the
Company will not benefit from the exemption contained in this
Article.
The Company will announce any market purchase of Ordinary Shares
pursuant to the Authority without delay.
Enquiries:
The Character Group plc
Jon Diver, Joint Managing Director
Kiran Shah, Joint Managing Director
Mark Dowding, Group Finance Director and Company Secretary
Office: +44 (0) 208 329 3377
Mobile: +44 (0) 7831 802219 (JD)
Mobile: +44 (0) 7956 278522 (KS)
Mobile: +44 (0) 7967 185269 (MD)
Email: info@charactergroup.plc.uk
FTSE sector: leisure:
FTSE AIM All-share: symbol: CCT.L:
Panmure Gordon (Nominated Adviser and Joint Broker)
Andrew Godber, Investment Banking
Tom Salvesen, Corporate Broking
Tel: +44 (0) 20 7886 2500
Allenby Capital Limited (Joint Broker]
Nick Athanas
Katrina Perez
Tel: +44 (0) 20 3328 5656
TooleyStreet Communications Limited (Investor and media
relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
Email: fiona@tooleystreet.com
Copies of this statement can be viewed at
www.thecharacter.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
September 20, 2016 09:50 ET (13:50 GMT)