6
November 2024
Videndum
plc
SHARE BUYBACK AND
CANCELLATION
Videndum plc ("the Company")
announces that on 5 November 2024 it commenced a share buyback and
cancellation programme ("Buyback Programme") of its ordinary shares
of 20p each (the "Ordinary shares"). The Company has appointed
Investec, as its corporate broker, to manage the buyback programme
to repurchase Ordinary shares on its behalf.
The Buyback Programme will take
place in open market transactions and will be a small buyback to
eliminate new issue shares which are tied to a US share plan over
which options have been exercised during 2024.
The Buyback Programme is in
accordance with the Company's general authority to purchase a
maximum of 9,420,120 Ordinary Shares, granted by its shareholders
at the Annual General Meeting held on 19 June 2024, including that
the maximum price paid per Ordinary Share is the highest of:
a) an amount equal to 5% above the average market immediately
preceding the day on which that Ordinary Share is contracted to be
purchased; and b) 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.
Under this Buyback Programme, the
Company intends to cancel all the purchased Ordinary
Shares.
The Buyback Programme will be
conducted within the parameters of the Market Abuse Regulation
596/2014/EU and the Commission Delegated Regulation 2016/1052/EU
(each as in force in the UK from time to time, including where
relevant pursuant to the Market Abuse (Amendment) (EU Exit)
Regulations 2019.
The Company will make further
announcements in due course following any share purchases conducted
through the Buyback Programme.
The Company confirms that it
currently has no unpublished price sensitive
information.
Enquiries:
Jon Bolton
Group Company Secretary
Telephone: 020 8332 4600
A
snapshot of Videndum plc
Videndum is a leading global
provider of premium branded hardware products and software
solutions to the growing content creation market.
Videndum's customers include
broadcasters, film studios, production and rental companies,
photographers, independent content creators, gamers, professional
musicians and enterprises. Our product portfolio includes camera
supports, video transmission systems and monitors, live streaming
solutions, smartphone accessories, robotic camera systems,
prompters, LED lighting, mobile power, carrying solutions,
backgrounds, motion control, audio capture, and noise reduction
equipment.
We employ around 1,600 people across
the world in 10 different countries. Videndum plc is listed on the
London Stock Exchange, ticker: VID.
More information can be found
at: https://videndum.com/
LEI
number: 2138007H5DQ4X8YOCF14
