TIDMASTO

RNS Number : 5492C

AssetCo PLC

12 October 2022

12 October 2022

LEI: 213800LFMHKVNTZ7GV45

AssetCo plc ("AssetCo" or the "Company")

Acceleration of existing GBP7.5m Share Repurchase Programme

On 29 September 2022, the Company appointed Panmure Gordon to independently manage the Programme to repurchase Ordinary Shares on the Company's behalf. Panmure Gordon have acquired 354,976 Ordinary Shares pursuant to the Programme. The Company has now resolved to appoint Numis Securities Limited ("Numis") to continue with the Programme as set out below.

About the Programme

   --      The Programme will be financed through existing cash resources.

-- The aggregate number of Ordinary Shares acquired by the Company pursuant to the Programme shall not exceed the maximum number of Ordinary Shares which the Company is authorised to purchase pursuant to the General Authority, being up to 14,929,297 Ordinary Shares.

-- The Programme will operate in accordance with and under the terms of the relevant General Authority, and within the regulatory limit on the quantity of Ordinary Shares the Company may purchase on a single day. The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the delegated regulations made pursuant to it.

-- However, to accelerate the Programme there may be circumstance where the Company conducts share repurchases such that they exceed 25 per cent of the average daily volume in Ordinary Shares for the 20 trading days prior to the share repurchase.

   --      The Company confirms that it currently has no unpublished inside information.

-- The Programme will commence on the date of this announcement and will continue until the earlier of either the expiration of the General Authority or until the maximum pecuniary amount has been purchased under the Programme. The Company expects the Programme to be completed over the next three to six months.

-- The purchased Ordinary Shares will be held by the Company in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

-- Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The maximum price paid per Ordinary Share will be no more than the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.

-- In accordance with the General Authority, the maximum price paid per Ordinary Share acquired by the Company pursuant to the Programme is to be no more than 105% of the average middle market closing price of an Ordinary Share on AIM for the five business days preceding the date of purchase.

-- As at 12 October 2022, the Company's total issued share capital consisted of 149,292,970 Ordinary Shares, with one voting right per share. The Company holds 354,976 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company was 148,937,994.

Defined terms above are as defined in the announcement titled 'Share Repurchase Programme and Result of General Meeting' made by the Company on 29 September 2022.

For further information, please contact:

 
 AssetCo plc                         Numis Securities Limited 
  Campbell Fleming, CEO               Nominated adviser and joint 
  Peter McKellar, Deputy Chairman     broker 
  Tel: +44 (0) 785 0464 301           Giles Rolls / Charles Farquhar 
                                      Tel: +44 (0) 20 7260 1000 
 
 Panmure Gordon (UK) Limited         Maitland/AMO 
  Joint broker                        Neil Bennett 
  Charles Leigh-Pemberton / Atholl    Rachel Cohen 
  Tweedie                             Tel: +44 (0) 20 7379 55151 
  Tel: +44 (0) 20 7886 2500

For further details, visit the website, www.assetco.com

Ticker: AIM: ASTO.L

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October 12, 2022 02:00 ET (06:00 GMT)

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