REG - Character Group PLC - Extension of & increase to Share Buyback Programme

CharacterAnnouncement

30/05/2025 07:00

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RNS Number : 7035K  Character Group PLC (The)  30 May 2025

Friday, 30 May 2025

 

The Character Group plc

("Character" or the "Company")

 

Extension of and increase to Share Buyback Programme

 

On 29 October 2024, Character (AIM: CCT) announced a £2.0 million share
buyback programme (the "Share Buyback Programme") as part of its strategy to
reduce the Company's share capital. Since the commencement of the Share
Buyback Programme, the Company has repurchased for cancellation 631,399
Ordinary Shares in aggregate at a volume weighted average price of 256 pence
per Ordinary Share for a total consideration of £1,614,215  (excluding the
associated dealing costs).

Character today announces that, further to the Company's announcement on 29
October 2024, the Board has resolved to increase the Share Buyback Programme
by up to an additional £1.0 million, to a maximum consideration of £3.0
million. The Board has also amended the long stop expiry date for the Share
Buyback Programme from 30 May 2025 until the close of business on 15 January
2026, being the day prior to the expected date of the 2026 annual general
meeting.

Under the terms of the Share Buyback Programme, the Share Buyback Programme
will be terminated in the event that the Company becomes aware that any person
or group of persons known to be acting in concert has become interested in
Ordinary Shares carrying 29% or more of the voting rights of Character. This
is in order to avoid the triggering of a mandatory offer under Rule 9 of the
Takeover Code.

All other terms of the Share Buyback Programme as set out in the announcement
on 29 October 2024 remain unchanged.

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

The Company confirms that it currently has no other unpublished price
sensitive information at the time of this announcement.

As at the close of business on 29 May 2025, the Company's total issued share
capital consisted of 18,142,999 Ordinary Shares (excluding treasury shares)
and 1,983,059 shares held in treasury. Therefore, the total number of voting
rights in the Company was 18,142,999.

As at the close of business on 29 May 2025, the Company had an unutilised
capacity to buy back up to a further 2,308,708 Ordinary Shares under the
authority granted at the Annual General Meeting on 17 January 2025.

 

The Character Group plc

FTSE sector:  leisure goods

FTSE AIM All-share: symbol: CCT

Market cap: £44.3million

Email:  info@charactergroup.plc.uk (mailto:info@charactergroup.plc.uk)

Group website: www.thecharacter.com (http://www.thecharacter.com)

Product ranges can also be viewed at www.character-online.co.uk
(http://www.character-online.co.uk)

CHARACTER GROUP PLC CCT Stock | London Stock Exchange
(https://www.londonstockexchange.com/stock/CCT/character-group-plc/company-page)

 

 Enquiries to:

 The Character Group plc

 Jon Diver, Joint Managing Director

 Kiran Shah, Joint Managing Director

 Hamun Shah, Group Finance Director

 Office:  +44 (0) 208 329 3377

 Panmure Liberum Limited (Nominated Adviser and Joint Broker)

 Atholl Tweedie, Investment Banking

 Rupert Dearden / Rauf Munir, Corporate Broking

 Tel:  +44 (0) 20 7886 2500

 Allenby Capital Limited (Joint Broker)

 Nick Athanas, Corporate Finance

 Amrit Nahal / Tony Quirke, Sales & Corporate Broking

 Tel:  +44 (0) 20 3328 5656

 TooleyStreet Communications Limited (Investor and media relations)

 Fiona Tooley

 Tel:  +44 (0) 7785 703523

 Email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

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