REG - Dewhurst Group PLC - Share Buyback Programme

DewhurstAnnouncement

02/02/2024 07:00

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RNS Number : 7463B  Dewhurst Group PLC  02 February 2024

Dewhurst Group PLC

 

("Dewhurst" or the "Company")

 

Share Buyback Programme

 

 

Dewhurst Group plc (AIM: DWHT) today announces that it is commencing a share
buyback programme of up to £2.5 million (the "Share Buyback Programme") in
order to return funds to shareholders.

 

The Share Buyback Programme will be for on market purchases of both ordinary
shares of 10 pence each which carry voting rights ("Ordinary Shares") and 'A'
non-voting ordinary shares of 10 pence each ("A Shares") in the Company
(together, "Shares"). The Share Buyback Programme will take place within the
limitations of the authority granted to the Board of Dewhurst at its Annual
General Meeting, held on 14 February 2023, pursuant to which a maximum of
496,380 Ordinary Shares and 715,830 A Shares may be bought back by the Company
at a price of not more than 105 per cent. of the average of the middle market
quotations for such Ordinary Shares and A Shares for the ten dealing days
immediately preceding the day of any purchase.

 

Any Ordinary Shares or A Shares purchased under the Share Buyback Programme
will be held in treasury until cancelled.

 

The Share Buyback Programme commences today and ends no later than 31 March
2024, subject to the Board being re-granted the authority to buyback Shares at
its Annual General Meeting to be held on 20 February 2024, or earlier if the
maximum value of the Share Buyback Programme has been reached. The Company
will re-confirm the existence and quantum of the Share Buyback Programme upon
conclusion of its 2024 Annual General Meeting.

 

 

Contacts:

 

 Dewhurst Group Plc                                           Tel: +44 (0)208 744 8200
 Richard Dewhurst, Chairman

 Jared Sinclair, Chief Financial Officer

 www.dewhurst-group.com (http://www.dewhurst-group.com)

 Singer Capital Markets (Nominated Adviser and Sole Broker)   Tel: +44 (0)207 496 3000
 Rick Thompson / Alex Bond / James Fischer

 

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