REG - Eurocell plc - Launch of Share Buyback Programme

EurocellAnnouncement

20/03/2025 16:00

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RNS Number : 5524B  Eurocell plc  20 March 2025

20 March 2025

EUROCELL PLC

("Eurocell" or the "Group")

Launch of Share Buyback Programme

Eurocell plc, the market leading, vertically integrated UK manufacturer,
recycler and distributor of innovative window, door and roofline PVC products,
today announced that it intends to commence a further share buyback programme
in respect of its ordinary shares of £0.001 each ("Ordinary Shares") up to a
maximum consideration of £5 million from the date of this announcement (the
"Buyback").

As referenced in the 2024 Preliminary Results Announcement, the Board is
focused on enhancing shareholder returns and recognises the importance of our
ordinary dividend. We will also periodically consider supplementary
distributions, whilst always seeking to maintain a strong financial position.
The Buyback will reduce the share capital of the Company and enhance earnings
per share.

Details of the Share Buyback Programme

Eurocell has given irrevocable and non-discretionary instructions to Joh.
Berenberg, Gossler & Co. KG ("Berenberg") in relation to the Buyback,
which will commence immediately after this announcement. Berenberg will act as
principal during the Buyback and will make trading decisions concerning the
timing of the purchases of Ordinary Shares independently of the Company.

The maximum amount allocated to the Buyback is £5 million. Any market
repurchase of Ordinary Shares will be announced no later than 7:30am on the
business day following the calendar day on which the repurchase occurred. The
Shares that are repurchased will be cancelled.

Any purchases of Ordinary Shares contemplated by this announcement will be
effected within certain pre-set parameters. These arrangements are in
accordance with the authorities granted by the Company's shareholders at its
annual general meeting held on 16 May 2024 to repurchase a maximum of
10,969,731 Ordinary Shares.

The maximum price payable for an Ordinary Share will be the lower of (a) 105%
of the average of the middle market quotation for Ordinary Shares as derived
from the Daily Official List of London Stock Exchange plc for the five
business days before the date on which the purchase is made and (b) an amount
equal to the higher of the last independent trade and highest current
independent purchase bid.

Due to the limited liquidity in the Ordinary Shares, the Buyback may on any
given trading day exceed 25 per cent but remain below 50 per cent of the
average daily trading volume.

The arrangements relating to the maximum price and volume parameters are in
accordance with 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. The limited liquidity of the
Company allows for Market Abuse Regulations 1 Annex 1.1.9.3(b) Provision of
the Buy-back and Stabilisation Regulation relating to buy-back programmes to
warrant the exemptions specified.

Details of the authority granted at the 2024 AGM can be found on our website
under: https://investors.eurocell.co.uk/investors/agm/
(https://investors.eurocell.co.uk/investors/agm/)

Enquiries:

Eurocell plc

Darren Waters, Chief Executive
Officer                                +44 (0)
1773 842 105

Michael Scott, Chief Financial
Officer
+44 (0) 1773 842 140

 

Teneo

Nick de
Bunsen
+44 (0) 7825 575 258

 

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