EUR40 Million Share Buyback Programme

RNS Number : 9400D

Origin Enterprises Plc

08 March 2022

 

Origin Enterprises plc

€40 Million Share Buyback Programme

8 March 2022:   Origin Enterprises plc ("Origin" or the "Company")   announces, following the release of its 2022 Interim Results earlier today, the commencement of a share buyback programme to repurchase up to €40 million of its ordinary shares.

The Company has entered into irrevocable, non-discretionary arrangements with Goodbody Stockbrokers UC ("Goodbody") to repurchase ordinary shares on the Company's behalf up to a maximum consideration of €40 million (the "Share Buyback Programme").

The Share Buyback Programme will commence tomorrow, 9 March 2022 and may continue until 15 November 2022 subject to market conditions, the ongoing capital requirements of the business and termination provisions customary for arrangements of this nature.

The purpose of the Share Buyback Programme is to reduce the share capital of the Company. The repurchased ordinary shares will be held in treasury pending their cancellation or re-issue in due course. The maximum number of ordinary shares to be repurchased under the Share Buyback Programme is 12,559,585.  Any repurchase will be carried out on Euronext Dublin.

Goodbody will make its trading decisions in relation to the Company's shares independently of, and uninfluenced by, the Company and in accordance with certain pre-set parameters. The Share Buyback Programme will be conducted: (i) in accordance with the Company's general authority to repurchase ordinary shares as approved by the shareholders at the Company's AGM on 25 November 2021; and (ii) the parameters prescribed by the Market Abuse Regulation 596/2014/EU, the Commission Delegated Regulation (EU) 2016/1052 and the applicable laws and regulations of Euronext Dublin.

The Share Buyback Programme may be supplemented by the purchase of ordinary shares by way of block trades effected by Goodbody as agent of the Company in accordance with the Company's general authority to repurchase shares. Any shares repurchased through block trades will count towards the maximum consideration payable, and the maximum number of shares that may be purchased, by the Company under the Share Buyback Programme.

Details of any ordinary shares repurchased under the Share Buyback Programme will be notified to a Regulatory Information Service by the Company following repurchase. The Company confirms that currently it has no unpublished inside information.

ENDS

Enquiries:

Barbara Keane [phone]

Company Secretary

Origin Enterprises plc

About Origin Enterprises plc

Origin Enterprises plc is an international Agri-Services group, providing specialist agronomy advice, crop inputs and digital agricultural solutions to farmers, growers, landscapers and amenity professionals.  The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland, Romania and Ukraine.  Origin is listed on the Euronext Growth (Dublin) and AIM markets of the Irish and London Stock Exchanges.

Euronext Growth (Dublin) ticker symbol:   OIZ

AIM ticker symbol:                                     OGN

Website:   www.originenterprises.com

 

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