Share Buyback Programme

RNS Number : 1190C

Anpario PLC

05 February 2020

 

5 February 2020

ANPARIO PLC
("Anpario" or the "Company")

Share Buyback Programme

Anpario, the international producer of natural feed additives for animal health, hygiene and nutrition, announces that it has approved a share buyback programme (the "Buyback Programme") under which it intends to buy back ordinary shares of 23p each ("Ordinary Shares") using existing cash resources up to £1.0 million (the "Maximum Amount").

The Company has entered into an agreement with its broker Peel Hunt LLP ("Peel Hunt") to carry out market purchases of its Ordinary Shares on its behalf under the Buyback Programme. This agreement provides Peel Hunt with authority to carry out market purchases under the Buyback Programme independently of the Company.

Share repurchases under the Buyback Programme will be carried out on the London Stock Exchange and will be effected within certain pre-set parameters and in accordance with the requirements of the Market Abuse Regulation 596/2014 ("MAR") and the general authority granted by shareholders at the Company's most recent annual general meeting held on 27 June 2019 (the "Existing Buyback Authority"). Purchases of Ordinary Shares pursuant to the Buyback Programme will be subject to the Maximum Amount and will fall within the maximum aggregate number of 2,318,017 ordinary shares that the Company was authorised to purchase under the Existing Buyback Authority.

The maximum number of Ordinary Shares to be repurchased under the Buyback Programme on any trading day shall not exceed 100,000. This amount may exceed the limitations set out in Article 3(3) of the MAR buyback technical standards (Commission Delegated Regulation (EU) 2016/1052).

In accordance with the Existing Buyback Authority, the maximum price (excluding expenses) which may be paid for an Ordinary Share pursuant to the Buyback Programme is not more than the higher of: (i) an amount equal to 105% of the average of the middle market quotations for an Ordinary Share as derived from the AIM appendix to the London Stock Exchange Daily Official List for the five business days before the purchase is made; and (ii) an amount equal to the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out.

Any Ordinary Shares acquired as a result of the Buyback Programme will be held in treasury.

The Buyback Programme will commence tomorrow and will end at close of business on 4 May 2020 or, if earlier, when the Maximum Amount of Ordinary Shares has been repurchased. Anpario will make further announcements in due course following completion of any acquisitions under the Buyback Programme.

The Company confirms that it currently has no unpublished price sensitive information other than as set out in this announcement. The information communicated in this announcement contains inside information for the purposes of Article 7 of MAR.

Enquiries:

Anpario plc

Richard Edwards, Chief Executive Officer             [phone]
Karen Prior, Finance Director                              [phone]

Peel Hunt LLP                                                  [phone]

Adrian Trimmings
Andrew Clark

 

END

 

 

POSDELFBBLLFBBL