Business
Share Buyback
Share Buyback.
About this update from Craneware Plc
[{"type":"text","content":"\n \nRNS Number : 9433B Craneware plc 16 January 2018 \n\nNot for release, publication or distribution in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This announcement does not constitute an offer to purchase, or solicitation of an offer to sell, Ordinary Shares.\n \n \nCraneware plc \n(the \"Company\" or \"Group\")\n \nShare Buyback\n \nCraneware plc (AIM: CRW.L), the market leader in Value Cycle solutions for the US healthcare market, today announces that it intends to return up to £15 million to shareholders of the Company (\"Shareholders\") by way of a buyback of ordinary shares of 1 pence each in the capital of the Company (\"Ordinary Shares\") (the \"Share Buyback\"). \n \nSubject to certain restrictions, the Share Buyback is being made available to eligible Shareholders who are on the Company's register of members at 6 p.m. (UK time) on 15 January 2018. The price at which any Ordinary Shares may be acquired under the Share Buyback will be the average closing market value of an Ordinary Share for the five business days up to and including 22 January 2018 (the \"Share Buyback Price\"). \n \nThe Share Buyback will be implemented on the basis of the Company's broker, Peel Hunt LLP (\"Peel Hunt\"), acquiring, as principal, those Ordinary Shares it purchases from Shareholders at the Share Buyback Price, and on the basis that all Ordinary Shares that Peel Hunt acquires under the Share Buyback (the \"Acquired Shares\") will in turn be purchased from it by the Company (also at the Share Buyback Price) under the Company's existing buyback authority approved by Shareholders at the Company's last Annual General Meeting (the \"Shareholder Buyback Authority\"). Those Acquired Shares will be purchased by the Company from Peel Hunt under the terms, and subject to the conditions, of a put and call option agreement which has been entered into between the Company and Peel Hunt (the \"Option Agreement\").\n \nNotwithstanding the above, in no event will more than 1,348,085 Ordinary Shares be acquired in the Share Buyback (being the maximum number of Ordinary Shares which the Company has existing authority to buy back, under the Shareholder Buyback Authority).\n \nAll Ordinary Shares purchased by the Company from Peel H...