Fuller, Smith & Turner PLC (FSTA)
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL.
Fuller, Smith & Turner P.L.C. (“the Company”) Share Buyback Programme Further to the announcement made on 20 September 2022, the Company today announces that it has entered into an arrangement with Numis Securities Limited (“Numis”) to repurchase up to 1 million ‘A’ ordinary shares of 40 pence each in the Company (“Ordinary Shares”) for a maximum price per Ordinary Share of 5% over the average middle market price of such Ordinary Share based on the London Stock Exchange Daily Official List for the five business days immediately preceding the purchase (the “Programme”). The purpose of the Programme is to increase the number of shares held in treasury for use in meeting future obligations arising from the Company’s long-term incentive plan and/or other share-based reward plans in respect of employees and/or directors. The share purchases will be made on the Company's behalf and in accordance with the arrangement and, in the case of any purchases made during closed periods and/or at any time when the Company has inside information, shall be made independently of and uninfluenced by the Company. Any purchase of Ordinary Shares effected pursuant to this Programme will be carried out on the London Stock Exchange and executed in accordance with, and subject to limits prescribed by, the Listing Rules and in accordance with the authorisation granted to the Board by shareholders at the Annual General Meeting of the Company held on 21 July 2022. Due to the limited liquidity in the issued Ordinary Shares, any buyback of Ordinary Shares pursuant to the authority on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on the London Stock Exchange and may exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes and, accordingly, the Company will not benefit from the exemption contained in that Article. Any market purchase of ‘A’ Ordinary Shares under the Programme will be announced no later than 7:30 a.m. on the business day following the day on which the purchase occurred. Enquiries: 26 September 2022 |
ISIN: | GB00B1YPC344 |
Category Code: | POS |
TIDM: | FSTA |
LEI Code: | 213800C7ACOFMRCQQW76 |
OAM Categories: | 2.4. Acquisition or disposal of the issuer's own shares |
Sequence No.: | 190419 |
EQS News ID: | 1450241 |
End of Announcement | EQS News Service |
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