Franchise Brands PLC Share purchase programme (8125J)
December 31 2020 - 1:00AM
UK Regulatory
TIDMFRAN
RNS Number : 8125J
Franchise Brands PLC
31 December 2020
31 December 2020
Franchise Brands plc
("Franchise Brands" or the "Company")
Share purchase programme
Franchise Brands (AIM: FRAN) a multi-brand franchise business,
announces that for the next six-month period from 1 January 2021 to
30 June 2021, the Company will continue its discretionary programme
to buy ordinary shares of 0.5p each in the Company ("Ordinary
Shares") up to an aggregate value of GBP200,000 (the
"Programme").
The Company will use its employee benefit trust (the "EBT"),
details of which were announced on 1 July 2020, to purchase
Ordinary Shares. The Programme seeks to mitigate the dilutive
impact of share option awards and to improve overall shareholder
return. The EBT conducts market purchases of Ordinary Shares to
satisfy potential future option exercises by employees (but not
directors).
During the period 1 July 2020 to 31 December 2020, the EBT
purchased 264,848 Ordinary Shares at an average price of 96 pence
per share. 109,223 Ordinary Shares have been used to satisfy the
exercise of options over Ordinary Shares. Accordingly, the EBT
currently holds 155,625 Ordinary Shares which represents 0.16 per
cent. of the Company's current issued share capital.
The Company and the EBT have entered into arrangements with the
Company's joint broker, Dowgate Capital Limited ("Dowgate"), to
carry out on-market purchases of Ordinary Shares under the
Programme, including on a discretionary basis independent of the
Company during any prohibited periods of the Company, as determined
by the Market Abuse Regulation 596/2014/EU ("MAR"), which may fall
during the period of the Programme.
The Company was granted authority by its shareholders at the
Company's Annual General Meeting ("AGM") on 28 April 2020 to
purchase up to 7,971,076 Ordinary Shares (which represents 8.32 per
cent. of the current issued share capital) subject to a maximum
price limit, as detailed in the AGM notice. This authority will
expire at the end of the next AGM of the Company in 2021 or, if
earlier, at the close of business on 28 July 2021.
Enquiries:
Franchise Brands plc + 44 (0) 1625 813231
Stephen Hemsley, Executive Chairman
Chris Dent, Chief Financial Officer
Julia Choudhury, Corporate Development Director
Allenby Capital Limited (Nominated Adviser
and Joint Broker) +44 (0) 20 3328 5656
Jeremy Porter / Liz Kirchner (Corporate Finance)
Amrit Nahal (Sales)
Dowgate Capital Limited (Joint Broker) +44 (0) 20 3903 7715
James Serjeant / Colin Climie
MHP Communications (Financial PR) +44 (0) 20 3128 8100
Katie Hunt +44 (0) 7884 494112
franchisebrands@mhpc.com
About Franchise Brands plc
Franchise Brands is focused on building market-leading
businesses in selected customer segments using primarily a
franchise model. The Group currently has a combined network of over
400 franchisees across five franchise brands. Our focus is on
established brands which can benefit from our shared support
services, specialist sector expertise, management experience and
group resources.
The Group is organised into a B2B division comprised of Metro
Rod, Metro Plumb and Willow Pumps, and a B2C division that
incorporates ChipsAway, Ovenclean and Barking Mad. This divisional
organisation of our brands is designed to provide a greater focus
and structure to support the strategic development of our B2B and
B2C brands.
Each of our brands are leaders in their respective markets and
each brand has a long trading history. The combined trading history
of all the Group's brands is over 135 years.
Franchise Brands plc employs some 250 people across three
principal locations in Macclesfield, Kidderminster and
Aylesford.
For further information, visit www.franchisebrands.co.uk.
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