Business
Commencement of share buyback programme
Commencement of share buyback programme.
About this update from Aeorema Communications Plc
[{"type":"text","content":"\n\nAeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media \n \n12 May 2025\n \n Aeorema Communications plc\n('Aeorema', 'the Company' or 'the Group') \n \nCommencement of share buyback programme\n \nAeorema Communications plc (AIM: AEO), a leading strategic communications group, announces that it intends to conduct on-market purchases under a share buyback programme to repurchase ordinary shares of 12.5 pence each in the capital of the Company (\"Ordinary Shares\"), up to an aggregate amount of 5 per cent. of the Company's issued share capital, pursuant to the authority obtained at the Company's annual general meeting on 12 December 2024 (the \"Buyback Programme\").\n \nThe Buyback Programme reflects the Board's confidence in the long-term outlook for the Group. The purpose of the Buyback Programme is to reduce the share capital of the Company.\n \nThe Buyback Programme will be funded from the Company's existing surplus cash resources and all Ordinary Shares purchased will be cancelled. The Company intends to operate the Buyback Programme from the date of this announcement until the earliest of buying back 484,650 Ordinary Shares or the date of the next AGM in 2025.\n \nThe Company has appointed Shard Capital Partners LLP (\"Shard Capital\") to execute and manage the Buyback Programme and has entered into an arrangement whereby Shard Capital can make market purchases of Ordinary Shares on its behalf, independently of the Company. Shard Capital will make its trading decisions in relation to the Ordinary Shares independently of and uninfluenced by the Company with such trading decisions being in line with the terms of the Buyback Programme.\n \nThe maximum price which may be paid by the Company per Ordinary Share shall not be more than the higher of 105 per cent of the average of the middle market quotations for an Ordinary Share as derived from the AIM market of the London Stock Exchange plc for the five business days immediately preceding the day on which an Ordinary Share is contracted to be purchased. \n \nDue to the relatively low liquidity in the Ordinary Shares, the Company may purchase Ordinary Shares pursuant to the Buyback on any trading day materially in excess of 25 per cent of the average daily volume (but remain below 50%), b...