REG - Anglo-Eastern Plant - Share Buyback Programme

Anglo-Eastern PlantationsAnnouncement

20/03/2025 07:00

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RNS Number : 3683B  Anglo-Eastern Plantations PLC  20 March 2025

20 March 2025

 

Anglo-Eastern Plantations Plc

(The "Company" or "AEP")

 

Share Buyback Programme

 

 

Anglo-Eastern Plantations Plc, which owns, operates and develops plantations
in Indonesia and Malaysia, announces that today it will launch a share buyback
programme (the "Programme") to repurchase up to £5 million of ordinary shares
of 25 pence each in the capital of the Company ("Ordinary Shares").

 

AEP has entered into an irrevocable commitment with Panmure Liberum Limited
("Panmure Liberum") to manage the Programme to repurchase Ordinary Shares on
its behalf from today, up to a maximum aggregate consideration of £5 million.
Panmure Liberum will manage the Programme through a non-discretionary
programme, repurchasing the Company's Ordinary Shares on its behalf and within
certain defined parameters. Panmure Liberum will make trading decisions in
relation to the buyback of Ordinary Shares independently of the Company within
the programme terms.

 

Share purchases will take place in open market transactions and may be made
from time to time depending on market conditions, share price and trading
volume. The Programme is in accordance with the Company's general authority to
purchase a maximum of 3,963,637 Ordinary Shares, granted by its shareholders
at the Annual General Meeting held on 24 June 2024.

 

The Programme will be conducted within the parameters prescribed by the Market
Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU)
2016/1052 (also as in force in the UK, from time to time, including, where
relevant, pursuant to the UK's European Union (Withdrawal) Act 2018 and the
Market Abuse (Amendment) (EU Exit) Regulations 2019) as well as applicable
laws and the regulations of the UK Financial Conduct Authority (including
Chapter 9 of the UK Listing Rules).

 

Panmure Liberum will monitor the level of liquidity in the issued Ordinary
Shares and may determine that, in order to proceed with the Programme in an
effective and timely manner, the Programme may on any given trading day exceed
25 per cent of the average daily trading volume. Should this occur, the
Company may not benefit from the exemption contained in Article 5(1) in MAR.

 

The Company confirms that it currently has no unpublished price sensitive
information. It is intended that repurchased shares will be held in treasury.

 

For further enquiry, contact:

Anglo-Eastern Plantations
Plc
+44 (0) 20 7216 4621

Marcus Chan Jau Chwen, Executive Director (Corporate Affairs)

Kevin Wong Tack Wee, Group Chief Executive Officer

 

Panmure
Liberum
+44 (0) 20 3100 2000

Amrit Mahbubani / Freddie Wooding

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