REG - B.P. Marsh &Partners - New Share Buyback Programme

B.P. Marsh & PartnersAnnouncement

17/04/2025 13:45

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RNS Number : 5172F  B.P. Marsh & Partners PLC  17 April 2025

17 April 2025

 

B.P. Marsh & Partners Plc

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

 

New Share Buyback Programme

 

B.P. Marsh & Partners Plc (AIM: BPM), the specialist venture capital
investor in early stage financial services businesses, today announces the
launch of a new share buy-back programme (the "Programme"), replacing the
buyback programme announced on 11 June 2024.

 

The Company has entered into an irrevocable commitment with Singer Capital
Markets to manage the Programme through a non-discretionary programme,
repurchasing the Company's Ordinary Shares on its behalf, for up to a maximum
aggregate consideration of £2 million, and within certain defined parameters.
Singer Capital Markets will make trading decisions in relation to the buyback
of Ordinary Shares independently of the Company within the programme terms and
will therefore have the ability to trade during close periods.

 

Share repurchases will take place in open market transactions and may be made
from time to time depending on market conditions, share price, trading volume
and other terms. The maximum price paid per Ordinary Share will be no more
than the higher of (a) 5 per cent. above the average middle market quotations
for an Ordinary Share (as derived from the AIM Appendix to the London Stock
Exchange Daily Official List) for the five business days immediately prior to
the day the purchase is made and (b) 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. Under
the Programme, the repurchased shares will be held 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.

 

The Programme will operate in accordance with the Company's general authority
to purchase a maximum of 3,723,283 Ordinary Shares (the "Authority"),
granted by its shareholders at the Annual General Meeting of the Company held
on 23 July 2024 (since when the Company has repurchased 93,570 Ordinary
Shares pursuant to the Authority). Unless renewed sooner, the Authority will
expire at the Company's next Annual General Meeting (the "2025 AGM") or, if
earlier, at the close of business on 31 July 2025. The Company expects to
seek shareholders' approval authorising another such general authority for a
further approximate twelve months in due course (if approved a "General
Authority"), subject to which the Programme would continue beyond 31 July 2025
in accordance with the renewed General Authority and the parameters set out
above.

 

The purpose of the Programme is to reduce the Company's share capital. 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 the UK's version of the Market
Abuse Regulation and the AIM Rules for Companies.

 

 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 / Kuba Stawiski

 

 

Notes to Editors:

B.P. Marsh's current portfolio contains fifteen 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
approaching ten years.

 

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