REG - Epwin Group PLC - Extension of Share Buyback Programme

EpwinAnnouncement

10/04/2024 07:15

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RNS Number : 9373J  Epwin Group PLC  10 April 2024

 

 

 

 

10 April 2024

 

Epwin Group Plc

("Epwin", the "Company" or the "Group")

 

Extension of Share Buyback Programme

 

Epwin Group Plc (AIM: EPWN), the leading manufacturer of energy efficient and
low maintenance building products, with significant market shares, supplying
the Repair, Maintenance and Improvement ("RMI"), new build and social housing
sectors is pleased to announce its decision to extend its existing share
buyback programme originally announced on 27 November 2023 (the "Programme").
The decision to extend the Programme follows the anticipated completion today
of the Programme's initial repurchase limit of 3 million ordinary shares of
0.05 pence each ("Ordinary Shares"), at a total cost of £2.3 million. The
Programme is today being extended to allow the Company to repurchase up to a
further 3 million Ordinary Shares from the date of this announcement.

In order to implement the extension of the Programme, the Company has extended
its existing agreement with Shore Capital for it to carry out on-market
purchases independent of the Company on an irrevocable and non-discretionary
basis. The Programme will be conducted within certain pre-set parameters and
at all times in accordance with the authority granted by shareholders to
repurchase the Company's Ordinary Shares at the 2023 AGM held on 23 May 2023.

Following the extension of the Programme, it is currently envisaged that it
will now end no later than 30 September 2024 unless the Company and Shore
Capital agree otherwise (in which event an announcement would be made). The
Programme may cease before that date if the Programme limit of 3 million
ordinary shares is reached sooner, and the continuation of the Programme after
the 2024 AGM on 21 May 2024 is subject to purchases of Ordinary Shares
pursuant to the Programme remaining within the shareholder authority (if any)
for the Company to purchase its Ordinary Shares that is granted at the 2024
AGM. The Programme is intended to reduce the share capital of the Company and
as such repurchased Ordinary Shares will be cancelled.

Shareholders should be aware that the Programme will, insofar as is possible,
continue to be conducted in accordance with the safe harbour parameters of MAR
(as defined below); however, the Programme may on any given trading day
represent a significant proportion of the daily trading volume in the Ordinary
Shares on the London Stock Exchange and could exceed 25 per cent of the
average daily trading volume. Accordingly, the Company may not benefit from
the exemption contained in Article 5(1) in the UK version of the Market Abuse
Regulations (Regulation (EU) No 596/2014) as incorporated into UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). The Programme
will not prevent the Company from making additional purchases of Ordinary
Shares in accordance with the Company's general authority to repurchase
Ordinary Shares where it considers it appropriate to do so.

 

Any market purchase of Ordinary Shares pursuant to the Programme will be
announced no later than 7.30am on the business day following the day on which
the purchase occurred.

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of the Market Abuse Regulation (EU) No.596/2014, which forms
part of UK law by virtue of the European Union (Withdrawal) Act 2018. The
Company confirms that it currently has no other unpublished price sensitive
information.

 

Contact information

 Epwin Group Plc                                     078 3262 3818

 Jon Bednall, Chief Executive

 Chris Empson, Group Finance Director

 Shore Capital (Nominated Adviser and Joint Broker)   0207 408 4090

 Corporate Advisory

 Daniel Bush / Iain Sexton

 Corporate Broking

 Fiona Conroy

 Zeus Capital Limited (Joint Broker)                 0203 829 5000

 Dominic King / Nick Searle

 MHP Communications                                  078 3262 3818

 Reg Hoare / Charlie Barker / Finn Taylor            epwin@mhpgroup.com (mailto:epwin@mhpgroup.com)

 

About Epwin

Epwin is the leading manufacturer of energy efficient and low maintenance
building products, with significant market shares, supplying the Repair,
Maintenance and Improvement ("RMI"), new build and social housing sectors.

 

The Company is incorporated, domiciled and operates principally in the United
Kingdom.

 

Information for investors can be accessed www.epwin.co.uk/investors/
(https://url.avanan.click/v2/___http:/www.epwin.co.uk/investors/___.YXAxZTpzaG9yZWNhcDphOm86ODExMjkyYTFiZDE3YjYyODhhYTY1YmRhOTA1MzBlNWU6NjoxZjA4OjAwMGUzMTc4M2JlZTI4ODYzMDBjMmRmYTY3ZmNiMzljYTdkYTc3NTM0OTg5ZDFlZDczNmQxM2VlZmE5YjJjZmU6cDpU)

 

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