REG - Aptitude Software - Share Buyback Programme Renewal

Aptitude SoftwareAnnouncement

Thu 07:00

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RNS Number : 4964K  Aptitude Software Group PLC  29 May 2025

Aptitude Software Group plc

("Aptitude", "the Group")

Share Buyback Programme Renewal

Aptitude (LSE: APTD), a market-leading provider of finance transformation
software solutions, specialising in delivering fully autonomous finance,
announces the renewal of its £20 million share buyback programme initially
announced on 21 March 2024 (the "Share Buyback Programme"), of which £6
million has been repurchased to date.

The Share Buyback Programme will be for on market purchases of up to a further
£6 million worth of ordinary shares of 7 1/3 pence each in the capital of the
Company ("Ordinary Shares") carried out on the London Stock Exchange and any
other UK recognised investment exchange and in accordance with certain pre-set
parameters.

Any purchases of Ordinary Shares by the Company in relation to this
announcement will be effected within certain pre-set parameters and in
accordance with (and subject to the limits prescribed by) the Company's
general authority to repurchase Ordinary Shares granted by its shareholders
from time to time (at the Company's AGM on 28 May 2025, shareholders gave the
Company authority to purchase a maximum of 5,568,138 Ordinary Shares) (the
"General Authority"), the UK Companies Act, the Market Abuse Regulation
596/2014 (as it forms part of UK law pursuant to the European Union
(Withdrawal) Act 2018) (the "Regulations") and Chapter 12 of the Financial
Conduct Authority's Listing Rules (the "Listing Rules").

Aptitude has entered into arrangements with Canaccord Genuity Limited (the
"Broker") to conduct the Share Buyback Programme on its behalf on a
broker-managed basis in relation to the purchase of Ordinary Shares (within
certain defined parameters).

The Broker will make trading decisions in relation to Ordinary Shares
purchased under the Share Buyback Programme independently of, and uninfluenced
by, Aptitude.

Aptitude will make further regulatory announcements to shareholders in respect
of purchases of the Ordinary Shares after they occur.

Further details of the Share Buyback Programme

•     The purpose of the Share Buyback Programme is to reduce the share
capital of the Company and to return capital to those shareholders wishing to
participate in the Share Buyback.

•     The Share Buyback will be financed from existing cash resources.

•     The aggregate number of Shares acquired by the Company pursuant to
the Share Buyback shall not exceed the maximum number of ordinary shares which
the Company is authorised to purchase pursuant to the General Authority, set
out above.

•     In accordance with the General Authority, the maximum price
(exclusive of expenses) which may be paid for each Share is an amount equal to
the higher of (i) 105 per cent of the average of the middle market quotations
for a Share as derived from the London Stock Exchange Daily Official List for
the five business days immediately preceding the day on which the Company
agrees to buy the shares concerned; and (ii) the higher of the price of the
last independent trade of any Share and the highest current independent bid
for a Share in the trading venue where the purchase is carried out.
Furthermore, in accordance with the General Authority, the minimum price which
may be paid for each Share is 7 1/3 pence.

•     It is intended that the Share Buyback Programme will be conducted
within the volume limits of the exemption contained in Article 5(1) of the
Regulation. However, given the limited liquidity in the Shares, the Company
has agreed that, on any trading day, a buy-back of Shares under the Share
Buyback Programme may exceed 25 per cent. but remain below 50 per cent. of the
average daily trading volume in the Shares in the 20 trading days preceding
the date on which a buy-back of Shares is carried out. Accordingly, the
Company may not benefit from the exemption contained in the Regulations with
respect to such trading dates.

•     The Share Buyback will commence on the date of this announcement
and is anticipated to end at the earlier of the 2026 annual general meeting or
until the number of Shares equal to the Maximum Monetary Amount have been
purchased under the Share Buyback or the process is terminated or paused.

•     The purchased Shares will be held by the Company in treasury for
later reissue or cancellation, at the Company's discretion. Shares held in
treasury are, subject to the Companies Act 2006, not entitled to distributions
or dividends and the rights and obligations of such shares shall be suspended
(including any voting rights at the Company general meetings).

•     Share buybacks will take place in open market transactions and may
be made from time to time depending on market conditions, share price and
trading volume. There is no certainty that any buybacks will be completed. The
Share Buyback may be paused at any time if deemed appropriate by the Broker
with respect to market conditions.

•     Purchases may continue under the Share Buyback Programme during
any closed period to which the Company is subject. The Company confirms it is
not in a close period and currently has no other unpublished inside
information.

•     There is no guarantee that the Share Buyback Programme will be
implemented in full or that any purchases will be made. The Company reserves
the right to bring a halt to the Share Buyback Programme under circumstances
that it deems to be appropriate and in accordance with relevant law and
regulation.

•     As at 27 May 2025, the Company held 1,733,729 of its Ordinary
Shares in treasury and the number of Ordinary Shares in issue and admitted to
trading is 55,610,589 (excluding treasury shares).

•     The Company will make further regulatory announcements in respect
of repurchases of Shares as required by applicable laws and regulations,
including UK MAR and the Listing Rules.

The Board has determined that the commencement of this Share Buyback Programme
is in the best interests of the Company and its shareholders.

 

 Aptitude Software Group plc                                  020-3687-3200
 Ivan Martin, Chairman
 Alex Curran, Chief Executive Officer

 Canaccord Genuity Limited                                    020-7523-8000
 Simon Bridges / Andrew Potts

 Alma Strategic Communications
 Caroline Forde / Hilary Buchanan / Will Ellis Hancock        020-3405-0205

 

About Aptitude Software

Aptitude Software provides software solutions that deliver fully autonomous
finance to enable its clients to drive growth, efficiency and sustainability.
Fynapse is Aptitude's intelligent finance data management and accounting
platform designed to increase productivity and lower costs for finance teams
globally. Fynapse provides a single view of finance and business data,
unparalleled performance and automation, faster and better insights,
user-friendly functionality and market-leading total cost of ownership.

 

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