REG - EPE Special Opps Ltd EPE Special Opp-EO.P EPE Special Opp-EL.P - Announcement of ZDP Share Buybacks

EPE Special OpportunitiesAnnouncement

19/07/2023 09:30

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RNS Number : 5089G  EPE Special Opportunities Limited  19 July 2023

EPE Special Opportunities Limited

 

Announcement of ZDP Share Buybacks

 

EPE Special Opportunities Limited ("ESO" or the "Company") announces its
intention to commence purchases of up to 7,500,000 of the Company's zero
dividend preference shares ("ZDP Shares") from today's date up to and
including 31 July 2023 ("Share Buybacks"), at pricing up to the accrued
redemption yield of the ZDP Shares as at the date of purchase.

 

The proposed Share Buybacks will be funded by the Company's cash reserves. Any
ZDP Shares purchased by the Company will be held in treasury.

 

The Board believes that the current low level of liquidity in the ZDP Shares
may restrict its ability to purchase ZDP Shares. Accordingly, the Company has
agreed that on any given trading day Share Buybacks may exceed 25 per cent. of
the average daily trading volume on each trading platform on which the
Company's ZDP Shares are traded. Where a buyback of ZDP Shares exceeds 25 per
cent. of the average daily trading volume on any trading platform, the Company
will not fall within the exemption contained in Article 5(1) of the Market
Abuse Regulation.

 

The Company may, where it considers appropriate, undertake Share Buybacks at a
price that exceeds the higher of the price of the last independent trade and
the highest current independent purchase bid on the trading venue where the
purchase is carried out (being the price stipulated by Article 3(2) of the
Commission Delegated Regulation (EU) 2016/1052 (Commission Delegated
Regulation), as referred to in Article 5(6) of the Market Abuse Regulation).

 

The proposed Share Buybacks will be effected on behalf of the Company by
Liberum Capital Limited.

 

Any purchase of the Company's ZDP Shares contemplated by this announcement
will be carried out on a regulated trading venue and be executed in accordance
with, save as detailed above, Market Abuse Regulation 596/2014 and the
Commission Delegated Regulation (EU) 2016/1052 (both as incorporated into UK
domestic law by the European Union (Withdrawal) Act 2018).

 

Details of purchases of any ZDP Shares made by the Company will be notified to
a Regulatory Information Service by the Company following any repurchase as
required by the Market Abuse Regulation.

 

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.

 

This announcement contains inside information. The person responsible for
releasing this information on behalf of the Company is Amanda Robinson of
Langham Hall Fund Management (Jersey) Limited.

 

Enquiries:

 

 EPIC Investment Partners LLP                   +44 (0) 207 269 8865

                                                Alex Leslie

 Liberum Capital Limited                        +44 (0) 20 3100 2190

                                                Chris Clarke

                                                +44 (0) 20 3100 2223

                                                Owen Matthews

 Langham Hall Fund Management (Jersey) Limited  +44 (0) 153 488 5200

                                                Amanda Robinson

 Cardew Group Limited                           +44 (0) 207 930 0777

                                                Richard Spiegelberg

 Numis Securities Limited                       +44 (0) 207 260 1000
 Nominated Advisor:                             Stuart Skinner
 Corporate Broker:                              Charles Farquhar

 

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