Business
Ordinary Share Buy-back
Ordinary Share Buy-back.
About this update from Volvere Plc
[{"type":"text","content":"\n \nRNS Number : 2183F Volvere PLC 25 October 2018 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.\n \nVolvere plc\n(\"Volvere\" or the \"Company\")\nOrdinary Share Buy-back\nVolvere plc, the growth and turnaround investment company, is pleased to announce that it intends on 29 October 2018 to repurchase up to 550,254 ordinary shares of 0.00001 pence in the capital of the Company (the \"Ordinary Shares\") at a purchase price of 1102 pence per Ordinary Share (the \"Buy-back\"), to return up to approximately £6.06million (before expenses) to shareholders in accordance with the approval granted by shareholders at the annual general meeting of the Company held on 25 June 2018.\n \nQualified Investors (as defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended)) are invited to apply to participate in the Buy-back by contacting Nplus1 Singer Capital Markets Limited on the contact details below, as soon as possible and no later than 3.00 p.m. on 29 October 2018:\n \n\n\n\nMartin Campbell (Trading)\n\n\n+44 (0) 20 7496 3005\n\n\n\n \nRequests to participate in the Buy-back may be subject to scaling back at the absolute discretion of the Company and N+1 Singer. It is intended that Shareholders will be able to participate in the Buy-back pro rata to their current holdings of Ordinary Shares, except in certain circumstances, as detailed below.\n \nThe Company will repurchase up to a maximum of 550,254 Ordinary Shares, representing approximately 15.0 per cent. of the Company's issued share capital (excluding Ordinary Shares held in treasury) at a fixed price of 1102 pence per Ordinary Share, provided that any and all buybacks will be made at a price per Ordinary Share of not more than 105 per cent. of the average market value per Ordinary Share for the five business days preceding the date of repurchase. If the 1102 pence buyback price per Ordinary Share stated above does not meet this price requirement, buybacks will be executed at such alternative price per Ordinary Share representing 105 per cent. of the ave...