EBT Share Purchase Plan

RNS Number : 0290G

Cenkos Securities PLC

23 May 2017

 

23 May 2017

Cenkos Securities plc

("Cenkos" or the "Company")

EBT Share Purchase Plan

The Company announces that Zedra Trust Company (Guernsey) Limited ("Zedra" or the "Trustee"), which administers the Cenkos Securities plc Employee Benefit Trust (the "EBT"), has entered into a trading plan (the "EBT Share Purchase Plan") with the Company. The EBT Share Purchase Plan will, unless terminated by the Trustee at an earlier date, expire on 31 May 2018.

The EBT Share Purchase Plan renews, on the same terms, a prior EBT share purchase plan which expired on 30 April 2017.

Under the EBT Share Purchase Plan the Trustee will instruct the Company, as broker, to acquire ordinary shares of 1p each in the Company ("Ordinary Shares") for the EBT. Purchases under the EBT Share Purchase Plan will be limited to £50,000 of Ordinary Shares (by market value) per calendar month and the maximum price paid for such Ordinary Shares shall be an amount equal to the higher of: (i) 5% above the average of the middle market quotations for such Ordinary Shares for the preceding five business days immediately preceding the day on which the purchase is made; (ii) the price of the last independent trade of Ordinary Shares on the venue where the purchase is carried out; and (iii) the highest current independent bid for an Ordinary Share as derived from the trading venue where the purchase is carried out.  

Zedra, as Trustee of the EBT, can hold up to 10% of the Company's issued ordinary share capital and has absolute discretion and independence in respect of all trading decisions it may make in respect of the purchase of Ordinary Shares pursuant to the EBT Share Purchase Plan.

Enquiries:

Jim Durkin                                                                                      [phone]

Chief Executive Officer       

Cenkos Securities plc

Dr Azhic Basirov / David Jones / Ben Jeynes                    [phone]

Nominated Adviser

Smith & Williamson Corporate Finance Limited

David Rydell / Duncan Mayall                                               [phone]

Bell Pottinger              

 

END

 

 

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