REG - Crystal Amber Fund - Share Buyback Programme

Crystal Amber FundAnnouncement

29/01/2025 07:00

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RNS Number : 0299V  Crystal Amber Fund Limited  29 January 2025

29 January 2025

 

Crystal Amber Fund Limited

("Crystal Amber Fund", the "Company" or the "Fund")

 

Share Buyback Programme

 

Crystal Amber Fund announces that it intends to continue the buyback of
Company shares under a share buyback programme for the period to 24 February
2025. Since 15 December 2023, c.£10 million has been returned to shareholders
in share buybacks and in order to continue this and reduce the Company's share
capital, from now until 24 February 2025 the Company intends to conduct
on-market purchases under the share buyback programme to repurchase ordinary
shares of 1 penny each in the capital of the Company ("Ordinary Shares") up to
an aggregate amount of £5 million, but no more than 10,167,070 Ordinary
Shares, pursuant to the authority obtained at the Company's annual general
meeting on 13 December 2024 (the "Buyback").

 

The maximum price which may be paid by the Company per Ordinary Share shall
not be more than the higher of:

a.    105 per cent of the average of the middle market quotations for an
Ordinary Share as derived from the AIM market of the London Stock Exchange plc
for the five business days immediately preceding the day on which the purchase
is made; and

b.    the value of an Ordinary Share calculated on the basis of the higher
of the price quoted for (i) the last independent trade of and (ii) the highest
current independent bid for the Ordinary Shares.

 

Due to the relatively low liquidity in the Ordinary Shares, the Company may
purchase Ordinary Shares pursuant to the Buyback on any trading day materially
in excess of 25 per cent of the average daily volume, being the limit
prescribed pursuant to Article 5(1) of the EU Market Abuse Regulation
(2014/596/EU) (which forms part of domestic UK law pursuant to the European
Union (Withdrawal) Act 2018) ("UK MAR") and accordingly, the Company may not
benefit from that exemption.

 

There is no guarantee that the 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 Buyback under circumstances that it deems to be appropriate and in
accordance with relevant law and regulation.

 

The Company will make further announcements in due course following any share
purchases conducted through the Buyback. Ordinary Shares purchased in the
Buyback will be cancelled in due course.

 

 

For further enquiries please contact:

 

Crystal Amber Fund Limited

Chris Waldron (Chairman)

Tel: 01481 742 742

www.crystalamber.com (http://www.crystalamber.com)

 

Allenby Capital Limited - Nominated Adviser

Jeremy Porter/ Dan Dearden-Williams

Tel: 020 3328 5656

 

Winterflood Investment Trusts - Broker

Joe Winkley/Neil Langford

Tel: 020 3100 0160

 

Crystal Amber Advisers (UK) LLP - Investment Adviser

Richard Bernstein

Tel: 020 7478 9080

 

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