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23 October 2024
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Big Technologies
plc
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("Big
Technologies" or the "Company")
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Transaction in Own
Shares
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Big Technologies plc (AIM: BIG), the
UK-based remote people monitoring technology company, announces
that on 22 October 2024 it purchased 34,486 ordinary shares of
£0.01 each in the Company (the "Repurchased Shares"), pursuant to
the share buyback programme (the "Buyback Programme") that was
announced on 27 September 2024, as follows (together the
"Transaction"):
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Date of purchase
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22 October 2024
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Number of ordinary shares
purchased
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34,486
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Highest price paid per ordinary
share
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130 pence
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Lowest price paid per ordinary
share
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130 pence
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Volume weighted average price paid
per ordinary share
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130 pence
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Total Voting Rights
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Following the Transaction, the
issued share capital of the Company remains unchanged at
298,568,721 and the Company now holds 321,424 shares in treasury.
The total voting rights in the Company is now 298,247,297 which may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, Big Technologies
under the FCA's Disclosure Guidance and Transparency
Rules.
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The Company will make further
announcements in due course following the completion of any further
purchases pursuant to the Buyback Programme.
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In accordance with Article 5(1)(b)
of the Market Abuse Regulation (EU) No 596/2014 details of the
purchase of its own ordinary shares by the Company, which were all
executed through the Company's broker, Zeus Capital Limited, are
set out below:
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Schedule of Purchases:
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Shares
purchased:
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Big Technologies plc (ISIN:
GB00BN2TR932)
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Date of
purchases:
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22 October 2024
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Aggregate information:
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Aggregated Volume
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Volume-weighted average price (pence)
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Venue
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34,486
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130.0000
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London Stock Exchange
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Individual transactions:
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Volume
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Price
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Time
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34,486
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130.0000 pence
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15:34 UK
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Big
Technologies plc
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+44 (0) 19
2360 1910
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Sara Murray (Chief Executive
Officer)
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Daren Morris (Chief Financial
Officer)
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Zeus
(Nominated Adviser and Sole Broker)
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+44
(0) 203 829 5000
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Dan Bate / Kieran Russell (Investment
Banking)
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Benjamin Robertson (Equity Capital
Markets)
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About Big Technologies plc
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Big Technologies is the parent
company of Buddi, which was founded in 2005 by its current CEO,
Sara Murray, following an initial idea to create a GPS device small
enough for a child to carry. Today, Big Technologies is a proven
supplier of innovative and high-quality products and services to
the remote personal monitoring industry. Big Technologies provides
products and services under a number of brand and trading names,
with 'Buddi' being the most well-known and being used in respect of
activities within the core criminal justice market. Big
Technologies (under the Buddi brand) has created a leading,
integrated technology platform (including both hardware and
software solutions) for remote monitoring of individuals, providing
state-of-the-art Electronic Monitoring (EM) solutions on a
SaaS-like, subscription basis.
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Electronic Monitoring in the criminal
justice sector involves utilising location technologies to remotely
monitor and manage people at all stages of the criminal justice
system. The Company's focus on the Criminal Justice market in the
immediate term has been demand-driven, with significant
opportunities created by a combination of favourable market
tailwinds as electronic location devices are increasingly
recognised as alternatives to imprisonment, and superior
technological capability enabling the Company to meet this demand
effectively.
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Big Technologies' criminal justice
solution has been iteratively developed over a 10-year period,
utilising the knowledge of an experienced management team listening
to customers. The solution consists of a proprietary software
platform with modular monitoring hardware, capable of being adapted
to multiple applications. The Company's criminal justice solution
is principally focussed around the "Buddi Smart Tag", an electronic
monitoring hardware device, and "Buddi Eagle", the in-house
developed, cloud-based monitoring software. Collectively, the
hardware and the intelligent tools integrated into Big
Technologies' software enable real-time tracking of monitored
individuals with high levels of accuracy and reliability. Buddi
evidences a substantial reduction in false alerts when compared to
competitor systems which, combined with the reduction in subsequent
investigations, can result in substantial cost savings for
customers.
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In addition to the high levels of
accuracy, the Buddi Smart Tag has several key advantages over its
competitors' devices. The tag is lighter, smaller, has longer
battery life and offers a simple, contact free and shorter
installation process, providing substantial staff cost savings for
customers. This superior product design, coupled with the
intelligent monitoring software, typically comes at a small price
premium to competitor devices. However, the overall effectiveness
and reliability of the solution, combined with the substantial cost
savings delivered as a result of reduced monitoring costs, have
helped Big Technologies deliver strong revenue growth from both
existing and new customers. The Company leases its devices and
software solutions to customers typically based on daily or monthly
rates.
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