ZEGONA SHARE BUYBACK PROGRAMME - PROGRESS UPDATE

RNS Number : 6819U
Zegona Communications PLC
31 July 2020
 

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ZEGONA COMMUNICATIONS PLC ("Zegona")

 

  LEI: 213800ASI1VZL2ED4S65

31 JULY 2020

 

ZEGONA SHARE BUYBACK PROGRAMME - PROGRESS UPDATE

 

On 24 June 2020 Zegona announced a Buyback1 programme of its Ordinary Shares2 for an aggregate purchase price of up to £10 million. Zegona's Board has set a Buyback Policy3 that allows shares to be acquired at prices up to the Underlying Asset Value Per Share4.

As part of this programme, Barclays Bank plc, on behalf of Zegona, has purchased the following number of Ordinary Shares:

 

Date of purchase:

30 July 2020

Number of shares purchased:

20,000

Volume weighted average price paid per share:

£1.160000

Lowest price paid per share:

£1.160000

Highest price paid per share:

£1.160000

 

Zegona intends to cancel these shares.

 

Detailed information about the individual purchases is available below.

 

As at 30 July, Zegona had purchased an aggregate of 2,836,101 shares for a total of £2,918,177 and cancelled 2,796,101 meaning the total number of voting rights in Zegona is 219,139,076, each carrying one vote per share.

 

 

 

 

 

 

 

 

 

 

ENQUIRIES

 

Tavistock (Public Relations adviser)

Tel: +44 (0)20 7920 3150

Lulu Bridges - lulu.bridges@tavistock.co.uk  

Jos Simson -  jos.simson@tavistock.co.uk



 

Trade details:

 

Purchase date

Purchase time

Volume

Price

Platform

Transaction reference number

30 JULY 2020

10:57

20,000

£1.160000

XLON

qu53e1icfyfr

 

1.  The "Buyback" is Zegona's on-market share buyback programme for an aggregate purchase price of up to £10 million, announced on   24 June 2020

2.  Ordinary shares of £0.01 each in the capital of Zegona ("Ordinary Shares")

3.  Zegona's "Buyback Policy" is that shares may be acquired at prices up to the Underlying Asset Value per Share on the day of purchase, subject also to normal market practice as regards buyback pricing, as set out in the Important Notices section of Zegona's buyback programme announcement dated 24 June 2020

4.  The "Underlying Asset Value per Share" is defined for any day as the value in pounds sterling on the previous trading day of Zegona's investment in Euskaltel (using the €/£ FX rate on that day) and net cash balance divided by the number of Zegona Ordinary Shares in issue

5.  These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests, or a change to their interest, in Zegona under the FCA's Disclosure Guidance and Transparency Rules.

 


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