Cavendish Financial PLC Intended Purchases of Shares by EBT
24 Septiembre 2024 - 3:20AM
RNS Regulatory News
RNS Number : 4212F
Cavendish Financial PLC
24 September 2024
24 September
2024
Cavendish Financial
plc
("Cavendish", "the
Company" or the "Group")
Intended Purchases of Shares by Employee
Benefit Trust
Cavendish Financial plc (AIM: CAV)
announces that Ogier Global Trustee (Jersey) Limited ("Ogier" or
the "Trustee"), which administers the Cavendish Financial plc
Employee Benefit Trust ("EBT"), has indicated its intention to make
market purchases (the "Market Purchases") in ordinary shares of 1p
each in the Company ("Ordinary Shares") for the benefit of the EBT
and to satisfy the future vesting of awards under the Company's
share incentive schemes.
The programme of Market Purchases
will, unless terminated by the Trustee at an earlier date, expire
on 30 September 2025, and will be limited to £50,000 of Ordinary
Shares (by market value) per calendar month. The Market Purchases
are subject to the Trustee's discretion, in consultation with its
broker, as to the purchase price to be paid up to a pre-agreed
maximum price per Ordinary Share of an amount equal to the higher
of (i) 5% above the average of the middle market quotations for
Ordinary Shares for the preceding five business days immediately
preceding the day on which the purchase is made; and (ii) the
higher of the price of the last independent trade of Ordinary
Shares and the highest current independent bid for an Ordinary
Share as derived from the trading venue where the purchase is
carried out. The Trustee has absolute discretion and independence
in respect of all trading decisions it may make in respect of the
Market Purchases.
CONTACTS
Cavendish
(Management)
Tel: +44 (0) 20 7220 0500
Julian Morse, Co-Chief Executive
Officer
investor.relations@cavendish.com
John Farrugia, Co-Chief Executive
Officer
Ben Procter, Chief Financial Officer
SPARK Advisory
Partners (Nominated Advisor)
Matt Davis / Adam
Dawes
Tel: +44 (0) 20 3368 3550
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END
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