Announcement of ZDP Share Buybacks

EPE Special Opportunities Limited

01 November 2024

 

EPE Special Opportunities Limited

Announcement of ZDP Share Buybacks

EPE Special Opportunities Limited ("ESO" or the "Company") announces its intention to commence purchases of up to 3,000,000 of the Company's zero dividend preference shares ("ZDP Shares") from today's date up to and including 20 December 2024 ("Share Buybacks"), at pricing up to the accrued redemption yield of the ZDP Shares as at the date of purchase.

The proposed Share Buybacks will be funded by the Company's cash reserves. Any ZDP Shares purchased by the Company will be held in treasury.

The Board believes that the current low level of liquidity in the ZDP Shares may restrict its ability to purchase ZDP Shares. Accordingly, the Company has agreed that on any given trading day Share Buybacks may exceed 25 per cent. of the average daily trading volume on each trading platform on which the Company's ZDP Shares are traded.

The Company may, where it considers appropriate, undertake Share Buybacks at a price that exceeds the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out (being the price stipulated by Article 3(2) of the Commission Delegated Regulation (EU) 2016/1052 (Commission Delegated Regulation), as referred to in Article 5(6) of the Market Abuse Regulation).

The proposed Share Buybacks will be effected on behalf of the Company by Panmure Liberum Limited.

Details of purchases of any ZDP Shares made by the Company will be notified to a Regulatory Information Service by the Company following any repurchase as required by the Market Abuse Regulation.

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

This announcement contains inside information. The person responsible for releasing this information on behalf of the Company is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.

Enquiries:

EPIC Investment Partners LLP	[phone] Rupert Palmer
Panmure Liberum Limited	[phone] Chris Clarke
Langham Hall Fund Management (Jersey) Limited	[phone] Amanda Robinson
Cardew Group Limited	[phone] Richard Spiegelberg
Deutsche Numis	[phone]
Nominated Advisor:	Stuart Skinner
Corporate Broker:	Charles Farquhar

 

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