REG - B.P. Marsh &Partners - Share Buy-Back Policy

B.P. Marsh & PartnersAnnouncement

07/08/2023 16:30

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RNS Number : 5528I  B.P. Marsh & Partners PLC  07 August 2023

7 August 2023

 

B.P. Marsh & Partners Plc

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

 

Share Buy-Back Policy

 

B.P. Marsh & Partners Plc (AIM: BPM), the specialist venture capital
investor in early-stage financial services businesses, wishes to reconfirm the
details of the existing Share Buy-Back Programme as announced on 16 January
2023 and updated on 25 April 2023, following the Company's recent Annual
General Meeting at which the Company's shareholders generally authorised it to
purchase up to a maximum of 3,746,600 Ordinary Shares (the "Authority").

 

The Company announced on 16 January 2023 that it had allocated £1,000,000 to
a Share Buy-Back Programme that would buy back shares at a price (the "Price")
representing a discount of no less than 20% to the most recently published Net
Asset Value per share.

 

As at the date of this announcement, the latest published Net Asset Value per
share is 526.2p, and to date the Company has acquired 201,317 Ordinary Shares
since commencing the Share Buy-Back Programme for an aggregate consideration
of £731,613. The Price will vary in line with the Company's future published
Net Asset Value movements.

 

Pursuant to the Authority, any purchases of Ordinary Shares will be carried
out independently managed by Panmure Gordon (UK) Limited, who will make the
share purchases on the Company's behalf and make all trading decisions
independently of, and uninfluenced by, the Company.

 

The Company will announce any market purchase of Ordinary Shares pursuant to
the Authority without delay.

 

Separately, as announced on 6 June 2023, the Group plans to commit a further
£6,000,000 to further share buy-backs, with more information to follow in due
course with regard to mechanics and how best to deliver this.

 

The Company remains committed to its previously stated objective to reduce the
share price discount to net asset value and reserves the right to review the
discount threshold and budget allocation stated above if, in the opinion of
the Company's directors, such action would further enhance shareholder value.

 

The Company confirms that it currently has no unpublished inside information.

 

All defined terms in this announcement, unless defined herein or the context
otherwise requires, shall have the same meaning as defined in the Company's
announcements on 16 January 2023 and 25 April 2023 titled 'Interim Dividend
Declaration and Share Buy-Back' and 'Share Buy-Back Programme Update',
respectively.

 

For further
information:

 

 B.P. Marsh & Partners Plc                                            www.bpmarsh.co.uk (http://www.bpmarsh.co.uk/)
 Brian Marsh OBE                                                      +44 (0)20 7233 3112

 Nominated Adviser & Broker

 Panmure Gordon
 Atholl Tweedie / Stephen Jones / Amrit Mahbubani / Ailsa MacMaster   +44 (0)20 7886 2500

 Financial PR & Investor Relations
 Tavistock                                                            bpmarsh@tavistock.co.uk
 Simon Hudson / Tim Pearson / Katie Hopkins                           +44 (0)20 7920 3150

 

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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