LAUNCH OF NEW SHARE BUYBACK PROGRAMME

City Pub Group PLC (The)

22 September 2023

 

22 September 2023

The City Pub Group plc

(the "Company")

LAUNCH OF NEW SHARE BUYBACK PROGRAMME

The City Pub Group plc (AIM: CPC), the owner and operator of 52 premium pubs across Southern England and Wales, today announces that it intends to commence a new share buyback programme in respect of its ordinary shares of 1p each ("Ordinary Shares") up to an initial maximum value of £1.5 million worth of Ordinary Shares from the date of this announcement (the "Share Buyback Programme"), as referenced in the Company's interim results announcement on 21 September 2023. The purchased Ordinary Shares will be held in treasury.

Details of the Share Buyback Programme

The Company has given an irrevocable and non-discretionary instruction to Liberum Capital Limited, acting as 'riskless' or 'matched' principal, in relation to the Share Buyback Programme, which will commence today and will end no later than 20 September 2024.

Any purchases of Ordinary Shares contemplated by this announcement will be effected within certain pre-set parameters. These arrangements are in accordance with the authorities granted by the Company's shareholders at its annual general meeting held on 7 June 2023 in respect of market repurchases of Ordinary Shares.

Due to the limited liquidity in the Ordinary Shares, the Share Buyback Programme may on any given trading day exceed 25 per cent of the average daily trading volume and, accordingly, the Company may not benefit from the exemption contained in Article 5(1) in the UK version of the Market Abuse Regulations (Regulation (EU) No 596/2014) as incorporated into UK domestic law by virtue of the European Union (Withdrawal) Act 2018.

Any market repurchase of Ordinary Shares will be announced no later than 7:30 a.m. on the business day following the calendar day on which the repurchase occurred. All Ordinary Shares repurchased will be held in treasury.

Enquiries:
City Pub Group                                 Clive Watson, Executive Chairman Holly Elliott, CFO	Today: via Instinctif
Instinctif Partners                 Matthew Smallwood	[phone]
Liberum (Nomad & Joint Broker) Chris Clarke Edward Thomas Kane Collings	[phone]
Panmure Gordon (UK) Limited (Joint broker)  Simon French Ailsa Macmaster Rupert Dearden	[phone]

For further information on City Pub Group pubs visit www.citypubcompany.com

 

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