Business
Share BuyBack, Notice of GM and Rule 9 Waiver
Share BuyBack, Notice of GM and Rule 9 Waiver.
About this update from B.p. Marsh & Partners Plc
[{"type":"text","content":"\n\n12 May 2025\n \nB.P. Marsh & Partners Plc\n(\"B.P. Marsh\", the \"Company\" or the \"Group\")\n \nNotice of General Meeting, Proposed Share Purchase Authority and Rule 9 Waiver\n \nB.P. Marsh (AIM: BPM), the specialist investor in early-stage financial services businesses, announces today that it has posted to shareholders a shareholder circular (the \"Circular\") and Notice of General Meeting (\"General Meeting\"). Copies of both are available on the Company's website at www.bpmarsh.co.uk or by request. They are also available on request from the Company at its registered office.\n \nThe General Meeting will be held in person at 10.00 a.m. on 2 June 2025 at 1 Cornhill, London EC3V 3ND.\n \nProposed Share Purchase Authority and Rule 9 Waiver\n \nThe Company has historically sought and received approval from its Shareholders to make market purchases of its own Ordinary Shares, the most recent authority being granted at the Company's Annual General Meeting on 23 July 2024 (the \"Current Share Purchase Authority\"). This permitted the Company to launch a share buyback programme on 17 April 2025 to make market purchases of Ordinary Shares in order to return capital to its Shareholders (the \"Current Share Buyback Programme\").\n \nThe Company is proposing, in advance of its annual general meeting to be held in 2025 (the \"2025 AGM\"), to renew its general authority to purchase Ordinary Shares in the market by proposing a special resolution to approve the Future Share Purchase Authority at the General Meeting. If approved, the Future Share Purchase Resolution will grant the Board a general authority for the Company to purchase up to 3,710,000 Ordinary Shares in the market, representing a maximum of 10 per cent. of the Company's issued ordinary share capital. The Future Share Purchase Authority would last until the earlier of (i) 31 July 2026 or (ii) the conclusion of the Company's annual general meeting to be held in 2026 (the \"2026 AGM\").\n \nIn order to enable the Company to make market purchases of Ordinary Shares without triggering a mandatory offer obligation for the Brian Marsh Concert Party (or any member thereof), the Company has consulted with the Takeover Panel. The Takeover Panel has agreed, subject to the passing of the Waiver Resolution by the Independent Shareholder...