REG - AssetCo PLC - Acceleration of £7.5m Share Repurchase Programme

AssetcoAnnouncement

12/10/2022 07:01

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RNS Number : 5492C  AssetCo PLC  12 October 2022

12 October 2022

LEI: 213800LFMHKVNTZ7GV45

AssetCo plc ("AssetCo" or the "Company")

Acceleration of existing £7.5m Share Repurchase Programme

On 29 September 2022, the Company appointed Panmure Gordon to independently
manage the Programme to repurchase Ordinary Shares on the Company's
behalf. Panmure Gordon have acquired 354,976 Ordinary Shares pursuant to the
Programme. The Company has now resolved to appoint Numis Securities Limited
("Numis") to continue with the Programme as set out below.

About the Programme

·      The Programme will be financed through existing cash resources.

·     The aggregate number of Ordinary Shares acquired by the Company
pursuant to the Programme shall not exceed the maximum number of Ordinary
Shares which the Company is authorised to purchase pursuant to the General
Authority, being up to 14,929,297 Ordinary Shares.

·     The Programme will operate in accordance with and under the terms
of the relevant General Authority, and within the regulatory limit on the
quantity of Ordinary Shares the Company may purchase on a single day. The
Programme will be conducted within the parameters of the Market Abuse
Regulation 596/2014/EU and the delegated regulations made pursuant to it.

·    However, to accelerate the Programme there may be circumstance where
the Company conducts share repurchases such that they exceed 25 per cent of
the average daily volume in Ordinary Shares for the 20 trading days prior to
the share repurchase.

·      The Company confirms that it currently has no unpublished inside
information.

·    The Programme will commence on the date of this announcement and will
continue until the earlier of either the expiration of the General Authority
or until the maximum pecuniary amount has been purchased under the Programme.
The Company expects the Programme to be completed over the next three to six
months.

·     The purchased Ordinary Shares will be held by the Company in
treasury at the Company's discretion for later reissue or cancellation. Shares
held in treasury are not entitled to dividends and have no voting rights at
the Company's general meetings.

·   Share repurchases 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 maximum price paid per Ordinary Share will be no more than
the higher of the price of the last independent trade and the highest current
independent purchase bid for Ordinary Shares on the trading venue where the
purchase is carried out.

·    In accordance with the General Authority, the maximum price paid per
Ordinary Share acquired by the Company pursuant to the Programme is to be no
more than 105% of the average middle market closing price of an Ordinary Share
on AIM for the five business days preceding the date of purchase.

·   As at 12 October 2022, the Company's total issued share capital
consisted of 149,292,970 Ordinary Shares, with one voting right per share. The
Company holds 354,976 Ordinary Shares in treasury. Therefore, the total number
of voting rights in the Company was 148,937,994.

Defined terms above are as defined in the announcement titled 'Share
Repurchase Programme and Result of General Meeting' made by the Company on 29
September 2022.

For further information, please contact:

 AssetCo plc                                Numis Securities Limited

 Campbell Fleming, CEO                      Nominated adviser and joint broker

 Peter McKellar, Deputy Chairman            Giles Rolls / Charles Farquhar

 Tel: +44 (0) 785 0464 301                  Tel: +44 (0) 20 7260 1000

 Panmure Gordon (UK) Limited                Maitland/AMO

 Joint broker                               Neil Bennett

 Charles Leigh-Pemberton / Atholl Tweedie   Rachel Cohen

 Tel: +44 (0) 20 7886 2500                  Tel: +44 (0) 20 7379 55151

For further details, visit the website, www.assetco.com
(http://www.assetco.com/)

Ticker: AIM: ASTO.L

 

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