Fuller, Smith & Turner PLC: Share Buyback Programme (1450241)
26 September 2022 - 4:02PM
UK Regulatory
Fuller, Smith & Turner PLC (FSTA) Fuller, Smith & Turner
PLC: Share Buyback Programme 26-Sep-2022 / 15:02 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR
INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A
SOLICITATION OF ANY VOTE OR APPROVAL. NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION (DIRECTLY OR INDIRECTLY) IN WHOLE OR IN PART IN,
INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION.
Fuller, Smith & Turner P.L.C. ("the Company")
Share Buyback Programme
Further to the announcement made on 20 September 2022, the
Company today announces that it has entered into an arrangement
with Numis Securities Limited ("Numis") to repurchase up to 1
million 'A' ordinary shares of 40 pence each in the Company
("Ordinary Shares") for a maximum price per Ordinary Share of 5%
over the average middle market price of such Ordinary Share based
on the London Stock Exchange Daily Official List for the five
business days immediately preceding the purchase (the
"Programme").
The purpose of the Programme is to increase the number of shares
held in treasury for use in meeting future obligations arising from
the Company's long-term incentive plan and/or other share-based
reward plans in respect of employees and/or directors.
The share purchases will be made on the Company's behalf and in
accordance with the arrangement and, in the case of any purchases
made during closed periods and/or at any time when the Company has
inside information, shall be made independently of and uninfluenced
by the Company.
Any purchase of Ordinary Shares effected pursuant to this
Programme will be carried out on the London Stock Exchange and
executed in accordance with, and subject to limits prescribed by,
the Listing Rules and in accordance with the authorisation granted
to the Board by shareholders at the Annual General Meeting of the
Company held on 21 July 2022.
Due to the limited liquidity in the issued Ordinary Shares, any
buyback of Ordinary Shares pursuant to the authority on any trading
day may represent a significant proportion of the daily trading
volume in the Ordinary Shares on the London Stock Exchange and may
exceed 25 per cent. of the average daily trading volume, being the
limit laid down in Article 5(1) of Regulation (EU) No 596/2014 (as
incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018) and the Commission Delegated Regulation (EU)
2016/1052 (as incorporated into UK domestic law by the European
Union (Withdrawal) Act 2018) dealing with buyback programmes and,
accordingly, the Company will not benefit from the exemption
contained in that Article.
Any market purchase of 'A' Ordinary Shares under the Programme
will be announced no later than 7:30 a.m. on the business day
following the day on which the purchase occurred.
Enquiries: Rachel Spencer Company Secretary 020 8996 2073
26 September 2022
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ISIN: GB00B1YPC344
Category Code: POS
TIDM: FSTA
LEI Code: 213800C7ACOFMRCQQW76
OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares
Sequence No.: 190419
EQS News ID: 1450241
End of Announcement EQS News Service
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