Business
Share Buy-Back Policy
Share Buy-Back Policy.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n\n7 August 2023\n \nB.P. Marsh & Partners Plc\n(\"B.P. Marsh\" or the \"Company\")\n \nShare Buy-Back Policy\n \nB.P. Marsh & Partners Plc (AIM: BPM), the specialist venture capital investor in early-stage financial services businesses, wishes to reconfirm the details of the existing Share Buy-Back Programme as announced on 16 January 2023 and updated on 25 April 2023, following the Company's recent Annual General Meeting at which the Company's shareholders generally authorised it to purchase up to a maximum of 3,746,600 Ordinary Shares (the \"Authority\").\n \nThe Company announced on 16 January 2023 that it had allocated £1,000,000 to a Share Buy-Back Programme that would buy back shares at a price (the \"Price\") representing a discount of no less than 20% to the most recently published Net Asset Value per share.\n \nAs at the date of this announcement, the latest published Net Asset Value per share is 526.2p, and to date the Company has acquired 201,317 Ordinary Shares since commencing the Share Buy-Back Programme for an aggregate consideration of £731,613. The Price will vary in line with the Company's future published Net Asset Value movements.\n \nPursuant to the Authority, any purchases of Ordinary Shares will be carried out independently managed by Panmure Gordon (UK) Limited, who will make the share purchases on the Company's behalf and make all trading decisions independently of, and uninfluenced by, the Company.\n \nThe Company will announce any market purchase of Ordinary Shares pursuant to the Authority without delay.\n \nSeparately, as announced on 6 June 2023, the Group plans to commit a further £6,000,000 to further share buy-backs, with more information to follow in due course with regard to mechanics and how best to deliver this.\n \nThe Company remains committed to its previously stated objective to reduce the share price discount to net asset value and reserves the right to review the discount threshold and budget allocation stated above if, in the opinion of the Company's directors, such action would further enhance shareholder value.\n \nThe Company confirms that it currently has no unpublished inside information.\n \nA...