Business
Launch of Share Buyback Programme
Launch of Share Buyback Programme.
About this update from Anpario Plc
[{"type":"text","content":"\n\nAnpario plc\n(\"Anpario\" or the \"Company\")\n \nLaunch of Share Buyback Programme\n \n \nAnpario (AIM: ANP), the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity, announces its intention to commence a share buyback programme (\"Programme\") with an aggregate value of up to £1.0 million.\n \nAs referenced in the Company's final results for the year ended 31 December 2024, announced 31 March 2025, the Company has a strong cash position of approximately £10.5 million. The Share Buyback Programme reflects the Company's directors' continued confidence in its future prospects. The Company remains committed to continuing to invest in the business to deliver growth and returning surplus cash to shareholders following the return of £9.0 million to shareholders by way of a Tender Offer in 2023.\n \nDetails of the Programme\n \nAnpario has entered into an agreement with Shore Capital Stockbrokers Limited (\"Shore Capital\") pursuant to which Shore Capital will carry out on-market purchases of Ordinary Shares in the capital of the Company (the \"Shares\") independent of the Company on an irrevocable and non-discretionary basis. Shore Capital will make its trading decisions in relation to the Programme independently of the Group.\n \nThe maximum price paid per Share (exclusive of expenses) will be no more than the higher of: (i) 105% of the average of the middle market quotations taken from the London Stock Exchange Daily Official List for the five business days preceding any Ordinary Shares being purchased; and (ii) the higher of the price of the last independent trade and the highest independent bid for Ordinary Shares on the trading venue where the purchase is carried out. The minimum price shall be no less than (exclusive of expenses) a price of 23 pence per Share, being the nominal value of a Share.\n \nThe Programme will commence today, 7 April 2025, and will end no later than 31 May 2025 unless completed or terminated earlier. Under the terms of the Programme, the Shares will be repurchased on the London Stock Exchange and will be held in treasury.\n \nThe maximum number of Shares which can be repurchased under the Programme is 2,031,313. The purpose of the programme is to return surplus cash to shareholders and reduce t...