Business
Share Buyback Programme
Share Buyback Programme.
About this update from Franchise Brands Plc
[{"type":"text","content":"\n \nRNS Number : 6867J Franchise Brands PLC 20 August 2019 \n\n20 August 2019\n \nFRANCHISE BRANDS PLC\n(\"Franchise Brands\", \"the Group\" or \"the Company\")\n \nShare Buyback Programme\n \nFranchise Brands announces that in the second half of the year, until 31 December 2019, it will continue its discretionary programme to buyback ordinary shares of 0.5 pence each in the Company (\"Ordinary Shares\"), up to a value of £200,000 (the \"Programme\"). This is a continuation of the programme that commenced in 2018 and has seen the Company purchase 513,700 Ordinary Shares into treasury, representing 0.7 per cent of the Company's issued share capital. \nThe Group is cash generative and it therefore intends to continue the share buyback programme to offset the dilutive impact of share awards, focusing on overall shareholder return. Therefore, any Ordinary Shares acquired under the Programme will be held in treasury. The total number of options over Ordinary Shares currently outstanding is 4,533,530, representing 5.8 per cent of the Company's issued share capital.\nThe Programme will be conducted by the Company in accordance with and under the terms of the general authority granted by the Company's shareholders at the Company's Annual General Meeting on 23 April 2019 to purchase up to 7,773,203 shares. This authority will expire at the end of the next Annual General Meeting of the Company in 2020 or, if earlier, at the close of business on 23 July 2020 (\"2019 Authority\"). \nThe Company has entered into an arrangement with its joint broker, Dowgate Capital Limited, to carry out on-market purchases of Ordinary Shares on its behalf under the Programme, including on a discretionary basis independent of the Company during any prohibited periods of the Company, as determined by the Market Abuse Regulation 596/2014/EU (\"MAR\"), which may fall during the period of the Programme. The Programme will be conducted in accordance with the provisions of MAR relating to share buy-back programmes, including in accordance with relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The Company confirms that it currently has no unpublished Inside Information.\n \nEnquiries:\n \n\n\n\nFranchise Brands...