Completion of £5 million Buyback Programme

RNS Number : 5902E

Anglo Pacific Group PLC

09 November 2020

 

News Release

9 November 2020

Anglo Pacific Group PLC

Completion of £5 million Buyback Programme

Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), is pleased to announce that following the purchase of ordinary shares on 6 November 2020, the Company's share buyback programme ("the Programme"), as announced on 25 September 2020 has been completed.

Summary

· Over the course of the Programme, the Company has acquired in aggregate 4,629,703 ordinary shares of 2 pence each in the Company ("Ordinary Shares") between 25 September and 6 November for a total consideration of £5 million, at a volume weighted average price of 107.973 pence per share

· All of the shares that were repurchased under the Programme will be held in treasury

· The Programme was largely financed by the partial disposal of the Company's non-core equity holdings, allowing for the Company to retain its ability to finance growth

· The Company has 181,758,719 ordinary shares of 2 pence each in issue, of which 4,629,703 ordinary shares are now held in treasury. Therefore, the total number of ordinary shares carrying voting rights is 177,129,016

· All purchases made under the Programme were made on the London Stock Exchange through our broker, Peel Hunt LLP

Julian Treger, Chief Executive Officer of the Company, commented:

"The share buyback programme, which was financed from the partial disposal of the Company's non-core equity holdings has now been completed and we are pleased to see that this has provided an immediate return to shareholders.

With a strong balance sheet and undrawn borrowing facilities of US$63.6 million (inclusive of the US$30 million accordion) we are well placed and confident in our pipeline and ability to further grow and diversify our portfolio."

For further information:

Anglo Pacific Group PLC	[phone]
Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer and Company Secretary
Website:	www.anglopacificgroup.com
Berenberg	[phone]
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Peel Hunt LLP	[phone]
Ross Allister / Alexander Allen / David McKeown
RBC Capital Markets Farid Dadashev / Marcus Jackson / Jamil Miah	[phone]
Camarco	[phone]
Gordon Poole / Owen Roberts / James Crothers

Notes to Editors

About Anglo Pacific

Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

 

END

 

 

POSKKFBPCBDDPDK