CentralNic Group PLC Share Buyback Programme (2607L)
30 Diciembre 2022 - 1:00AM
UK Regulatory
TIDMCNIC
RNS Number : 2607L
CentralNic Group PLC
30 December 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
30 December 2022
CENTRALNIC GROUP PLC
("CentralNic" or "the Company" or "the Group")
Share Buyback Programme
CentralNic Group Plc (AIM: CNIC), the global internet software
company that derives recurring revenue from marketplaces for Online
Presence and Online Marketing services , further to its
announcement on 12 December 2022, is pleased to inform that its
maiden share buyback programme of ordinary shares of GBP0.001 each
("Ordinary Shares") up to a maximum aggregate consideration of GBP4
million (the "Buyback Programme") launches effective today.
The Board considers the Buyback Programme to be in the best
interests of all shareholders, given the cash generative nature of
the business and the strong performance compared to expectations.
It reflects the Group's more balanced future approach to capital
allocation.
The Company has appointed its broker, Zeus Capital Limited
("Zeus"), to manage the Buyback Programme to repurchase Ordinary
Shares on its behalf and entered into an irrevocable and
non-discretionary arrangement on 29 December 2022 with Zeus and
Arden Partners PLC to enable Zeus to conduct the Buyback Programme
on a broker-managed basis. Zeus will make trading decisions in
relation to the Buyback Programme independently of the Company,
within certain defined parameters.
The Buyback Programme commences today and will end no later than
the date upon which the aggregate consideration paid for Ordinary
Shares reaches GBP4 million, or by the time of the Company's 2023
Annual General Meeting which is to be held no later than 30 June
2023 (the "Buyback Period"). During the Buyback Period the Company
has no power to invoke any changes to the authority and any
purchases will be undertaken by Zeus, acting independently of, and
uninfluenced by the Company.
Ordinary 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 Buyback Programme
is in accordance with the Company's general authority to purchase a
maximum of 28,866,000 Ordinary Shares, granted by its shareholders
at the Annual General Meeting held on 4 May 2022, including that
the maximum price paid per Ordinary Share will be no more than: a)
105 per cent. of the average trading price of the Ordinary Shares
as derived from the middle market quotations for an Ordinary Share
on the London Stock Exchange Daily Official List for the five
trading days immediately preceding the date on which an 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 the Buyback Programme, the repurchased shares will either
be cancelled or held 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.
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.
For further information:
CentralNic Group Plc
Michael Riedl, Chief Executive Officer +44 (0) 203 388 0600
Don Baladasan, Group Managing Director
Zeus (NOMAD and Broker)
Nick Cowles / Jamie Peel / James Edis
(Investment Banking) +44 (0) 161 831 1512
Dominic King (Corporate Broking) +44 (0) 203 829 5000
Berenberg (Joint Broker)
Mark Whitmore / Richard Andrews
/ Alix Mecklenburg-Solodkoff
SEC Newgate (for Media) +44 (0) 20 3207 7800
Bob Huxford / Harry Handyside +44 (0) 203 757 6880
centralnic@secnewgate.co.uk
The person responsible for arranging for the release of this
announcement on behalf of CentralNic is Michael Riedl, CEO
About CentralNic Group Plc
CentralNic (AIM: CNIC) is a London-based AIM-listed company
which drives the growth of the global digital economy by developing
and managing online marketplaces allowing businesses globally to
buy subscriptions to domain names for websites and email, monetise
their websites, and acquire customers online. Its core growth
strategy is identifying and acquiring cash-generative businesses in
its industry with annuity revenue streams and exposure to growth
markets and migrating them onto the CentralNic software and
operating platforms. For more information please visit:
www.centralnicgroup.com
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