Share Repurchase Programme

RNS Number : 1174X

Franchise Brands PLC

08 August 2018

 

8 August 2018

FRANCHISE BRANDS PLC

("Franchise Brands", "the Group" or "the Company")

SHARE REPURCHASE PROGRAMME

Franchise Brands announces that from today until 31 December 2018 it will commence a discretionary programme to purchase ordinary shares of 0.5 pence each ("Ordinary Shares") in the Company, up to a value of £200,000 (the "Programme").

As announced on 13 December 2017, the Group is cash generative and it therefore intends to commence the share repurchase programme to offset the dilutive impact of share awards, focusing on overall shareholder return. The total number of Ordinary Shares currently outstanding under option arrangements is 3,467,747 representing 4.46 per cent. of the Company's issued share capital.

Any purchases will be conducted in compliance with the relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The Company confirms that it currently has no unpublished Inside Information.

The Programme will be conducted by the Company in accordance with and under the terms of the general authority granted by the Company's shareholders at the Company's Annual General Meeting on 25 April 2018 to purchase up to 7,773,203 shares. This authority will expire at the end of the next Annual General Meeting of the Company in 2019 or, if earlier, at the close of business on 25 July 2019 ("2018 Authority"). The Programme will also be conducted in accordance with the provisions of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes.

Enquiries:

Franchise Brands plc	[phone]
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial Officer Julia Choudhury, Corporate Development Director
Allenby Capital Limited (Nominated Adviser and Joint Broker)	[phone]
Jeremy Porter/ Liz Kirchner
Dowgate Capital Stockbrokers (Joint Broker)	[phone]
James Serjeant / Colin Climie
MHP Communications (Financial PR)	[phone]
Katie Hunt

 

END

 

 

MSCBLGDIDXGBGIR