REG - Belvoir Group PLC - Share Buyback Programme

BelvoirAnnouncement

06/07/2023 09:15

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RNS Number : 1968F  Belvoir Group PLC  06 July 2023

BELVOIR GROUP PLC

(the "Group", or "Belvoir")

 

Share Buyback Programme

 

Belvoir Group PLC (AIM:BLV), a leading UK property franchise and financial
services Group, announces that it will undertake a share buyback programme of
up to £100,000 worth of ordinary shares of 1 pence each ("Ordinary Shares")
(the "Share Buyback Programme").

Ordinary Shares so purchased will be used to mitigate the dilutive impact of
employee options, a proportion of which are due to vest this year.

The Company has appointed its corporate broker finnCap Limited ("finnCap") to
manage the Share Buyback Programme, to repurchase Ordinary Shares on its
behalf from today's date until 31 August 2023.

The Company has entered into an irrevocable commitment with finnCap to
continue the Share Buyback Programme through a non-discretionary programme,
repurchasing the Company's Ordinary Shares on its behalf, and within certain
defined parameters. finnCap will make trading decisions in relation to the
buyback of Ordinary Shares independently of the Company within the programme
terms.

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 factors. The amount paid for each Ordinary Share (exclusive of
expenses) shall not be more than the higher of 105 per cent of the average
price of an Ordinary Share, for the five days immediately preceding the day on
which any Ordinary Share is purchased, or the higher of the price of the last
independent trade and the highest current independent bid for an Ordinary
Share on the trading venue where the purchase is carried out.

Pending re-issue the repurchased Ordinary Shares will be held in treasury.
Ordinary Shares held in treasury are not entitled to dividends and have no
voting rights at the Company's general meetings.

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

 

For further details:

 Belvoir Group PLC                                 01476 584900

 Dorian Gonsalves, Chief Executive Officer        investorrelations@belvoirgroup.com

 Louise George, Chief Financial Officer

 www.belvoirgroup.com

 finnCap                                          +44 (0) 20 7220 0500

 Julian Blunt, Teddy Whiley (Corporate Finance)

 Tim Redfern, Charlotte Sutcliffe (ECM)

 www.finncap.com

 Buchanan                                         +44 (0) 20 7466 5000

 Charles Ryland, Jack Devoy

 

Notes for editors:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a
nationwide property franchise Group with 487 offices across seven brands
specialising in residential lettings, property management, residential sales
and property-related financial services. With its Central Office in Grantham,
Lincolnshire, the Group manages 75,500 properties and reported record revenues
of £33.7m in 2022 marking Belvoir's 26(th) year of unbroken profit growth.

For further information, please visit: www.belvoirgroup.com

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