Business
Share Buy Back Programme
Share Buy Back Programme.
About this update from Frenkel Topping Group Plc
[{"type":"text","content":"\n \nRNS Number : 1315I Frenkel Topping Group PLC 22 November 2018 \n\n \n \n \nLEI 213800I5L3K7AT7A4R20\nFrenkel Topping Group plc\n(\"Frenkel Topping\" or the \"Company\")\n \nShare Buy-Back Programme\nFrenkel Topping Group plc, a specialist independent financial advisor and asset manager focussed on asset protection for vulnerable clients announces that it is to commence a buy-back programme to repurchase ordinary shares of 0.5 pence in the capital of the Company (\"Ordinary Shares\" and the \"Programme\") up to a maximum value of £50,000. The Programme will be managed by finnCap Ltd (\"finnCap\") and its sole purpose is to facilitate a reduction in the share capital of the Company.\n \nFrenkel Topping announces that it has entered into an irrevocable, non-discretionary arrangement with finnCap in relation to the Programme and that finnCap will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of and uninfluenced by Frenkel Topping. Any Ordinary Shares acquired as a result of the Programme will be held in treasury and the transaction will be announced to the market without delay.\nAny acquisitions of Ordinary Shares will be effected in accordance with the terms of the Company's general authority to make market purchases of its own Ordinary Shares granted to it by shareholders on 30 May 2018 (the \"Authority\"), including that the maximum price paid per Ordinary Share is to be no more than 105 per cent. of the average middle market closing price of an Ordinary Share for the 5 business days preceding the date of acquisition. The Programme commences on 22 November 2018 and will continue until no later than 21 February 2019. Purchases may continue during any prohibited periods (as defined by MAR) of Frenkel Topping which may fall during this period. \nDue to the limited liquidity in the issued Ordinary Shares, any buy-back of Ordinary Shares pursuant to the Authority on any trading day is likely to represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and is likely to exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the Company will not benefit from the exemption contained in this Article.\nThe Company con...