REG - B.P. Marsh &Partners - Cancellation of Shares & Buy-Back Programme Update

B.P. Marsh & PartnersAnnouncement

31/10/2024 17:45

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RNS Number : 4957K  B.P. Marsh & Partners PLC  31 October 2024

31 October 2024

 

B.P. Marsh & Partners Plc

("B.P. Marsh" or the "Company")

 

Cancellation of Shares and Buy-Back Programme Update

 

Cancellation of Shares

 

B.P. Marsh today announces that it has agreed to cancel 188,000 ordinary
shares of 10p each ("Ordinary Shares"). These shares were previously held in
Treasury, taking the total number of shares held by the Company in Treasury to
23,872 shares.

 

As a result of the cancellation, the total number of Ordinary Shares in issue
is 37,100,000 and the total number of Voting Rights in B.P. Marsh is
37,076,128. This figure may be used by shareholders as the denominator for the
calculations by which they will determine whether they are required to notify
their interest in, or a change to their interest in, the Company under the
FCA's Disclosure and Transparency Rules.

 

Share Buy-Back Programme Update

 

As previously announced, the Company initiated a Share Buy-back programme (the
"Programme") on 11 June 2024, permitting purchases up to a 15% discount to
diluted Net Asset Value, (this threshold was subsequently upwardly revised to
a 10% discount to diluted Net Asset Value with effect from 2 August 2024),
with a £1m budget allocation.

 

Under the Programme to date 156,702 shares have been purchased, at an average
price of £5.32, with £164,733 of the original £1m budget remaining. The
Board considers that Programme has been successful, allowing the Company to
purchase small yet consistent parcels of Shares where available in a NAV
accretive way. Accordingly, in order to continue this endeavour, the Board has
agreed to add a further £1m to the Programme, bringing the ongoing Share
Buy-back budget allocation balance to £1.16m.

 

All other terms of the Programme remain unchanged.

 

The Company confirms that it currently has no unpublished price sensitive
information.

 

The Company will make further regulatory announcements in respect of
repurchases of Ordinary Shares as required by UK MAR and the AIM Rules.

 

This announcement contains information which, prior to its disclosure, was
inside information.

 

For further
information:

 For further information, please visit www.bpmarsh.co.uk
 (http://www.bpmarsh.co.uk) or contact:

 B.P. Marsh & Partners Plc                            +44 (0)20 7233 3112

 Brian Marsh OBE / Alice Foulk

 Nominated Adviser & Joint Corporate Broker:          +44 (0)20 7886 2500

 Panmure Liberum Limited

 Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster

 Joint Corporate Broker:                              +44 (0)20 7496 3000

 Singer Capital Markets Advisory LLP

 Charles Leigh Pemberton / James Moat / Asha Chotai

 Financial PR & Investor Relations:                   bpmarsh@tavistock.co.uk (mailto:bpmarsh@tavistock.co.uk)

 Tavistock                                            +44 (0)20 7920 3150

 Simon Hudson / Katie Hopkins

 

Notes to Editors:

 

B.P. Marsh's current portfolio contains seventeen companies. More detailed
descriptions of the portfolio can be found at www.bpmarsh.co.uk
(http://www.bpmarsh.co.uk/) .

 

Since formation over 30 years ago, the Company has assembled a management team
with considerable experience both in the financial services sector and in
managing private equity investments. Many of the directors have worked with
each other in previous roles, and all have worked with each other for over ten
years.

 

- Ends -

 

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