Business
Share repurchase programme
Share repurchase programme.
About this update from Auction Technology Group Plc
[{"type":"text","content":"\n\nLEI: 213800U8Q9K2XI3WRE39\n \nThis announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 WHICH IS PART OF UK DOMESTIC LAW PURSUANT TO the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310).\n \nAUCTION TECHNOLOGY GROUP PLC\n \nShare repurchase programme\n \nLondon, United Kingdom, 4 March 2025 - Auction Technology Group plc (\"ATG\", \"the Company\", \"the Group\") (LON: ATG), operator of world-leading marketplaces for curated online auctions, announces today that it will commence a share repurchase programme of its ordinary shares of 0.01 pence each (the \"Ordinary Shares\") up to a maximum aggregate consideration of $40 million to be executed during the period from today until the date of the Company's next Annual General Meeting, expected to be held in January 2026 (the \"Repurchase Programme\").\n \nThe Company's capital allocation policy prioritises enhancing growth of the business, both organically and through select inorganic opportunities as they arise, whilst maintaining an appropriate level of liquidity headroom and returning excess capital to shareholders where appropriate (with the final priority being the purpose of the Repurchase Programme). \n \nATG will execute the Repurchase Programme in two tranches. In respect of the first tranche, ATG has entered into a discretionary agreement with Numis Securities Limited (\"Deutsche Numis\") to purchase Ordinary Shares for an aggregate value (excluding expenses) of up to $20 million pursuant to the Repurchase Programme (the \"Initial Tranche\"). Purchases of Ordinary Shares under the Initial Tranche, if any, will commence today and end no later than the date of the Company's next Annual General Meeting and will be carried out on the London Stock Exchange.\nAny purchase of Ordinary Shares undertaken in relation to this announcement will be executed in accordance with (i) the terms and parameters of Deutsche Numis' engagement; (ii) the relevant regulations, including the EU Market Abuse Regulation (596/2014) and the Commission Delegated Regulation (2016/1052), in each case as such legislation forms part of retained EU law (as defined in the EU (Withdrawal) Act 2018), and Chapter 9 of the Financial Conduct Authority's UK Listing Rules and (iii) the Company's general ...