REG - Cavendish Financial - Intended Purchases of Shares by EBT

CavendishAnnouncement

24/09/2024 09:30

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RNS Number : 4212F  Cavendish Financial PLC  24 September 2024

24 September 2024

Cavendish Financial plc

("Cavendish", "the Company" or the "Group")

Intended Purchases of Shares by Employee Benefit Trust

Cavendish Financial plc (AIM: CAV) announces that Ogier Global Trustee
(Jersey) Limited ("Ogier" or the "Trustee"), which administers the Cavendish
Financial plc Employee Benefit Trust ("EBT"), has indicated its intention to
make market purchases (the "Market Purchases") in ordinary shares of 1p each
in the Company ("Ordinary Shares") for the benefit of the EBT and to satisfy
the future vesting of awards under the Company's share incentive schemes.

The programme of Market Purchases will, unless terminated by the Trustee at an
earlier date, expire on 30 September 2025, and will be limited to £50,000 of
Ordinary Shares (by market value) per calendar month. The Market Purchases are
subject to the Trustee's discretion, in consultation with its broker, as to
the purchase price to be paid up to a pre-agreed maximum price per Ordinary
Share of an amount equal to the higher of (i) 5% above the average of the
middle market quotations for Ordinary Shares for the preceding five business
days immediately preceding the day on which the purchase is made; and (ii) the
higher of the price of the last independent trade of Ordinary Shares and the
highest current independent bid for an Ordinary Share as derived from the
trading venue where the purchase is carried out. The Trustee has absolute
discretion and independence in respect of all trading decisions it may make in
respect of the Market Purchases.

 

CONTACTS

Cavendish (Management)
                     Tel: +44 (0) 20 7220 0500

Julian Morse, Co-Chief Executive
Officer
investor.relations@cavendish.com

John Farrugia, Co-Chief Executive
Officer

Ben Procter, Chief Financial Officer

 

SPARK Advisory Partners (Nominated Advisor)
 

Matt Davis / Adam
Dawes
Tel: +44 (0) 20 3368 3550

 

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