Business
2020 Share Buyback Programme
2020 Share Buyback Programme.
About this update from Shaftesbury Capital Plc
[{"type":"text","content":"\n \n \n 7 November 2022\n \n \n \n \n \n Capital & Counties Properties PLC (\"Capco\")\n \n \n \n \n \n \n \n \n \n 2020 Share Buyback Programme\n \n \n \n \n \n \n In early 2020, Capco announced the repurchase for cancellation of 6.06 million of its own ordinary shares of 25p each as part of a share buyback programme. Capco has become aware of an administrative issue in respect of the purchase of 1,468,393 of its own ordinary shares of 25p each (the \"Shares\") on the Johannesburg Stock Exchange as part of such buyback programme during the period from February 2020 to March 2020, as a result of which the purchase of the Shares by Capco, representing less than 0.2% of Capco's issued share capital, is void.\n \n \n \n \n \n In order to rectify this, Capco's register of members will be corrected by restoring 1,468,393 ordinary shares of 25p each in Capco, and such shares will be listed on the Official List of the FCA and admitted to trading on the main market of the London Stock Exchange, and listed on the Johannesburg Stock Exchange. Admission of the shares is expected on Tuesday 8 November 2022.\n \n \n \n \n \n Capco will thereafter commence, on or about Tuesday 8 November 2022, an irrevocable, non-discretionary programme to purchase 1,468,393 ordinary shares of 25p each in Capco on its own behalf, for cancellation. The programme will run until the earlier of the date on which 1,468,393 ordinary shares of 25p each in Capco have been repurchased or Thursday 1 December 2022. The purpose of the programme is to restore the share capital of Capco to the same number of shares as were in issue prior to the correction to the register of members.\n \n \n \n \n \n Any share purchases will be made by Capco within certain pre-set parameters, and in accordance with both Capco's general authority to repurchase shares and the UK Market Abuse Regulations (including the safe harbours for buybacks within the UK Market Abuse Regulations), the UK Buybacks and Stabilisation Regulation and Chapter 12 of the Listing Rules. The maximum number of shares to be acquired under the programme is 1,468,393 ordinary shares of 25p each in Capco and the maximum aggregate value to be paid for all such shares is £1.9m.\n \n \n \n \n \n In accordance with Rule 2.9 of the Takeover Code and the D...