REG - Character Group PLC - New Share Buyback Programme

CharacterAnnouncement

Mon 15:15

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RNS Number : 3746R  Character Group PLC (The)  02 February 2026

The information contained within this announcement is deemed by the Company to
constitute inside information stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via the Regulatory Information Service, this inside information
is now considered to be in the public domain.

 

Monday, 2 February 2026

The Character Group plc

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

New Share Buyback Programme

Character (AIM:CCT) today announces the launch of a new share buyback
programme (the "2026 Share Buyback Programme"), following the completion of
its previous share buyback programme, pursuant to which approximately £3.0
million worth of ordinary shares of 5 pence each in the Company ("Ordinary
Shares") were purchased on behalf of the Company between 29 October 2024 and
15 January 2026.

The Board continues to believe that the Company's share price significantly
undervalues the Group. Therefore, to further enhance shareholder returns and
to reduce the Company's share capital, the Board has today approved the 2026
Share Buyback Programme to repurchase Ordinary Shares for up to a maximum
aggregate consideration of £3.0 million, which will be funded out of the
Group's existing cash resources.

The 2026 Share Buyback Programme will be carried out pursuant to the approvals
granted by shareholders at the Annual General Meeting held on 16 January 2026
(the "General Authority") and will commence on the date of this announcement
and continue until either the maximum pecuniary amount has been purchased
under the 2026 Share Buyback Programme or, if earlier, 14 January 2027.  The
2026 Share Buyback Programme will also automatically terminate upon the
Company giving notice 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 in the Company.

The Company has entered into an irrevocable commitment with Panmure Liberum
Limited ("Panmure Liberum") to conduct the 2026 Share Buyback Programme and
repurchase Ordinary Shares on the Company's behalf and to make trading
decisions under the programme in accordance with certain pre-set parameters
independently of the Company.

Share purchases under the 2026 Share Buyback Programme 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: (i) 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;
and (ii) 105 per cent of the average closing middle market quotations of an
Ordinary Share for the five business days immediately preceding the day on
which such Ordinary Shares are purchased. Under the 2026 Share Buyback
Programme, the shares repurchased by the Company will be cancelled.

 

There is no guarantee that the 2026 Share Buyback Programme will be
implemented in full or that any purchases will be made. The Company reserves
the right to bring a halt to the 2026 Share Buyback Programme under
circumstances that it deems to be appropriate and in accordance with relevant
law and regulation.

The 2026 Share Buyback Programme will be conducted within the pricing
parameters of the Market Abuse Regulation 596/2014/EU and the delegated
regulations made pursuant to it (the "Regulations"). However, given the
limited liquidity in the issued Ordinary Shares, the Company has agreed that,
on any trading day, a buy-back of Ordinary Shares under the 2026 Share Buyback
Programme may exceed 25% but not more than 50% of the average daily trading
volume in the Ordinary Shares in the 20 trading days preceding the date on
which a buy-back of Ordinary Shares is carried out. Accordingly, the Company
may not benefit from the exemption contained in the Regulations.

The Company will make further regulatory announcements in respect of
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.

 

The Character Group plc

FTSE sector:  leisure goods:

FTSE AIM All-share: symbol: CCT

Market cap: £42m

Email:  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

 Mobile: +44 (0) 7831 802219 (JD)

 Mobile: +44 (0) 7956 278522 (KS)

 Mobile: +44 (0) 7989 517315 (HS)

 Panmure Liberum (Nominated Adviser and Joint Broker)

 Atholl Tweedie, Investment Banking

 Rupert Dearden, 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

 

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