REG - CML Microsystems PLC - Update to Share Buyback Programme

CML MicrosystemsAnnouncement

24/04/2023 13:15

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RNS Number : 2564X  CML Microsystems PLC  24 April 2023

24 April 2023

CML Microsystems Plc

("CML" or the "Company")

 

Update to Share Buyback Programme

 

CML is pleased to announce an increase to the current share buyback programme
(the "Programme") by £250,000.

Since commencing the Programme, the Company has purchased 266,600 shares for
an average price of 530.20p per share and the total cost to date of the shares
purchased is approximately £1.37m out of the previously announced Programme
of £1.50m. All shares acquired under the Programme have been transferred to
treasury. Details of the Programme can be found in the launch announcement
dated 5 April 2023.

The Programme may not comply with the safe harbour requirements set out under
Article 5 of the retained UK law version of the Market Abuse Regulation
596/2014/EU ("UK MAR") and, accordingly, the Company may not at all times
benefit from the exemption contained in Article 5 of UK MAR.  Furthermore,
due to the limited liquidity in the Ordinary Shares, any market purchase of
Ordinary Shares pursuant to the Programme on any trading day could represent a
significant proportion of the daily trading volume in the Ordinary Shares on
AIM and could exceed 25 per cent. of the average daily trading volume. Details
of all purchases made pursuant to the Programme will be announced via RNS and
published on the Company's website as required by UK MAR without delay.

The Company confirms that, other than as disclosed in this announcement, it is
not currently in possession of any unpublished inside information.

Enquiries:

 CML Microsystems Plc                          www.cmlmicroplc.com (http://www.cmlmicroplc.com/)

Tel: +44 (0) 1621 875 500
 Chris Gurry, Group Managing Director

 Nigel Clark, Executive Chairman

 Shore Capital (Nominated Advisor and Broker)  Tel: +44 (0) 20 7408 4090

 Toby Gibbs

 James Thomas

 John More

 Lucy Bowden

 Fiona Conroy (Corporate Broking)

 Alma PR                                       Tel: +44 (0) 20 3405 0212

 Josh Royston

 Andy Bryant

 Matthew Young

 

About CML Microsystems PLC

CML develops mixed-signal, RF and microwave semiconductors for global
communications markets. The Group utilises a combination of outsourced
manufacturing and in-house testing with trading operations in the UK, Asia and
USA. CML targets sub-segments within Communication markets with strong growth
profiles and high barriers to entry. It has secured a diverse, blue chip
customer base, including some of the world's leading commercial and industrial
product manufacturers.

The spread of its customers and diversity of the product range largely
protects the business from the cyclicality usually associated with the
semiconductor industry. Growth in its end markets is being driven by factors
such as the appetite for data to be transmitted faster and more securely, the
upgrading of telecoms infrastructure around the world and the growing
prevalence of private commercial wireless networks for voice and/or data
communications linked to the industrial internet of things (IIoT).

The Group is cash-generative, has no debt and is dividend paying.

 

 

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