REG - Diales Group PLC - Further Share Buyback Programme

DialesAnnouncement

18/03/2025 14:00

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RNS Number : 1628B  Diales Group PLC  18 March 2025

Diales Group plc

("Diales Group" or the "Company")

Further Share Buyback Programme

Diales Group plc (AIM: DIAL), the global specialist dispute avoidance and
dispute resolution consultancy, as part of its disciplined approach to capital
management, is pleased to announce that it intends to conduct on-market
purchases under a further share buyback programme to repurchase up to £0.1
million of the Company's ordinary shares of 0.4 pence each ("Ordinary Shares")
pursuant to the authority obtained at the Company's last annual general
meeting (the "Buyback"). This buyback is further to the £0.25m purchase
programme conducted and completed in 2024. The company will consider
conducting further buybacks following the completion of the current programme,
if deemed appropriate.

The Buyback will be funded from the Company's existing surplus cash resources
and all Ordinary Shares purchased will be held in treasury.  The Company
intends to operate the Buyback from the date of this announcement until the
earlier of the 2026 Annual General Meeting or the completion of the stated
repurchase amount.

The Company has appointed Singer Capital Markets Securities Limited ("Singer
Capital Markets") to execute and manage the Buyback and has given an
irrevocable instruction to Singer Capital Markets to make market purchases of
Ordinary Shares on its behalf, independently to the Company. Singer Capital
Markets will make its trading decisions in relation to the Ordinary Shares
independently of the Company.

The maximum price which may be paid by the Company per Ordinary Share is the
higher of:

A. 5 per cent above the average of the middle market quotations for an
Ordinary Share as derived from the AIM Appendix to The London Stock Exchange
Daily Official List for the five business days immediately preceding the date
on which the Ordinary Share is purchased; and

B. the higher of the price of the last independent trade of an
Ordinary Share and the highest current independent bid for an
Ordinary Share on the trading venue where the purchase is carried out;

The Company has determined that it will not rely on the safe harbour
conditions for trading set out in Article 5 of EU Market Abuse Regulation
(2014/596/EU) (which forms part of domestic UK law pursuant to the European
Union (Withdrawal) Act 2018) ("UK MAR") given the limited liquidity in the
Ordinary Shares and limitations that it would impose on the number of Ordinary
Shares that can be purchased and, as such, the Company may purchase on any
trading day materially in excess of 25 per cent. of the average daily volume
in the 20 trading days preceding the date on which the purchase is carried
out.

There is no guarantee that the Buyback programme will be implemented in full
or that any purchases will be made.

As at the time of this announcement, the Company's total issued share capital
consists of 53,962,868, of which 1,305,429 shares are held in treasury,
therefore, the total number of Ordinary shares carrying voting rights is
52,657,439.

The above figure of 52,657,439 may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.

Enquiries:

 Diales Group plc
 Mark Wheeler (CEO)                                020 7377 0005
 Charlotte Parsons (CFO)                           020 7496 3000

 Singer Capital Markets (Nomad & Broker)
 Sandy Fraser

 Jen Boorer

 James Todd

 Acuitas Communications                            020 3745 0293 / 07799 767676
 Simon Nayyar                                      simon.nayyar@acuitascomms.com
 Arthur Dingemans                                  arthur.dingemans@acuitascomms.com

 

 

 

 

 

 

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