Nichols PLC Share Buyback (4892V)
December 14 2021 - 12:59AM
UK Regulatory
TIDMNICL
RNS Number : 4892V
Nichols PLC
14 December 2021
14 December 2021
Nichols plc
(the "Company" or "Group')
Share Buyback
Nichols plc, the diversified soft drinks Group, is pleased to
announce t hat it intends to conduct on-market purchases under a
share buyback programme to repurchase up to 453,486 ordinary shares
of 10p each in the capital of the Company (the "Ordinary Shares"),
representing up to approximately 1. 2 per cent of the Company's
issued share capital, pursuant to the authority obtained at the
Company's most recent annual general meeting, held on 28 April 2021
(the "Buyback").
The purpose of the Buyback is to meet future obligations under
the Company's SAYE Option Scheme and/or Long-Term Incentive Plan.
The Buyback will be funded from the Company's existing cash
resources and all Ordinary Shares repurchased will be held in
treasury. Repurchases may be made up to and including 23 August
2022. Any repurchases made following the Company's 2022 annual
general meeting will be conditional on further shareholders'
approval being obtained.
The Company has appointed Singer Capital Markets Securities
Limited ("Singer Capital Markets") to execute and manage the
Buyback and has given an irrevocable instruction to Singer Capital
Markets to make market purchases of Ordinary Shares on its behalf
independently to the Company. In accordance with Article 5(1) of
Regulation (EU) No 596/2014 the Company will not purchase on any
trading day more than 6,000 Ordinary Shares. The Buyback will run
from the date of this announcement to 23 August 2022 , unless
terminated earlier. Singer Capital Markets will make its trading
decisions in relation to the Ordinary Shares independently of the
Group.
The Company intends to conduct the Buyback within the
limitations of the shareholder authority granted at the Company's
AGM held on 28 April 2021, under which the maximum price which may
be paid by the Company per Ordinary Share shall not be more than
the higher of 5 per cent above the average middle market quotations
for an Ordinary Share (as derived from the London Stock Exchange
Daily Official List) for the five business days immediately
preceding the date of repurchase , and the higher of the price of
the last independent trade and the highest current independent bid
for an Ordinary Share.
There is no guarantee that the Buyback programme will be
implemented in full or that any repurchases will be made.
As at the time of this announcement, the Company's total issued
share capital consists of 36,968,772 Ordinary Shares with one
voting right per share, of which 39,664 Ordinary Shares are held in
treasury. Therefore, the total number of Ordinary shares carrying
voting rights is 36,929,108 .
The above figure of 36,929,108 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company under the FCA's Disclosure Guidance
and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018) ("UK MAR").
Contacts:
Andrew Milne, Group Chief Executive Officer
David Rattigan, Group Chief Financial Officer
Nichols plc
Telephone: 0192 522 2222
Website: www.nicholsplc.co.uk
Alex Brennan / Elfie Steve Pearce / Rachel
Kent Hayes
Hudson Sandler Singer Capital Markets
(Nominated Adviser and
Broker)
Telephone: 0207 796 4133 Telephone: 0207 496 3000
Email: nichols@hudsonsandler.com Website: www.singercm.com
Notes to Editors:
Nichols plc is an international soft drinks business
with sales in over 73 countries, selling products in
both the Still and Carbonate categories. The Group is
home to the iconic Vimto brand which is popular in the
UK and around the world, particularly in the Middle
East and Africa. Other brands in its portfolio include
SLUSH PUPPiE, Feel Good, Starslush, ICEE, Levi Roots
and Sunkist.
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END
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