ION1 Iona Env

TIDMION1

RNS Number : 1766M

IONA Environmental VCT PLC

18 January 2016

IONA ENVIRONMENTAL VCT PLC (the "Company")

18 January 2016

The Company launched the share buy-back programme under the authority granted to the Company by a special resolution passed by the shareholders at the annual general meeting on 21 August 2015 (the "Programme"). The commencement of the Programme took effect from the announcement of the Company's Half Year Report & Accounts on 26 November 2015 and concludes at the next annual general meeting or, if earlier, on expiry of 15 months from the date of the special resolution.

The Company appointed Panmure Gordon & Co. PLC ("Panmure") to manage the Programme and has authorised Panmure to effect on-market purchases of Ordinary and "A" shares (the "Shares") on behalf of the Company on the Main Market of the London Stock Exchange plc (the "Exchange").

Pursuant to and during the term of the Programme, Panmure may independently of, and without influence by the Company, purchase Shares from time to time at its absolute discretion provided that:

1) the maximum price payable for a Share on the Exchange is an amount equal to 75% of the value per share (ex dividend), as stated in the Company's Half Year Report & Accounts as at 30 September 2015.

2) the aggregate number of Shares which may be acquired on behalf of the Company in connection with the Programme shall not exceed 400,000.

Due to the limited liquidity in the Shares, the buy-back of Shares pursuant to the Programme on any trading day may represent a significant proportion of the daily trading volume in the Shares on the Exchange (and is likely to materially exceed the 25% and 50% limits of the average daily trading volume in the Shares in the month preceding the announcement or in the 20 trading days period preceding any repurchase - as referred to in the Commission Regulation (EC) No. 2273/2003 on buy-back programmes).

The Company announces the following buy-back of Ordinary and "A" shares:

 
 Ordinary      85,000 
------------  ------- 
 "A" shares    44,600 
------------  ------- 
 

Enquiries: Iona Capital 0207 0643 300

This information is provided by RNS

The company news service from the London Stock Exchange

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January 18, 2016 07:00 ET (12:00 GMT)

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