REG - Franchise Brands PLC - Share Purchase Programme

Franchise BrandsAnnouncement

24/06/2022 16:45

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RNS Number : 1858Q  Franchise Brands PLC  24 June 2022

24 June 2022

FRANCHISE BRANDS PLC

("Franchise Brands", "the Group" or "the Company")

 

Share purchase programme

 

Franchise Brands plc (AIM: FRAN), an international multi-brand franchise
business, announces that it will continue its discretionary programme to buy
ordinary shares of 0.5p each in the Company ("Ordinary Shares") for the next
six-month period from 1 July 2022 to 31 December 2022, up to an aggregate
value of £1,500,000 (the "Programme").

The Trustee of the Franchise Brands PLC Employee Benefit Trust (the "EBT")
will purchase Ordinary Shares in accordance with the Programme.  The
Programme seeks to mitigate the dilutive impact of share option awards and to
improve overall shareholder return.

During the period 1 January 2022 to 24 June 2022 ("H1 2022"), the EBT has
purchased 427,469 Ordinary Shares at an average price of 139 pence per share.
110,921 Ordinary Shares held by the EBT have been used to satisfy the exercise
of options over Ordinary Shares. Accordingly, the EBT currently holds 535,788
Ordinary Shares (31 December 2021: 219,240 Ordinary Shares) which represents
0.41 per cent. (31 December 2021: 0.23 per cent.) of the Company's current
issued share capital. The net cash cost to the Company during H1 2022 was
£445,552.

The Trustees of the EBT have entered into arrangements with the Company's
joint broker, Dowgate Capital Limited ("Dowgate"), to carry out on-market
purchases of Ordinary Shares under the Programme, including on a discretionary
basis independent of the Company during any prohibited periods of the Company,
as determined by the UK Market Abuse Regulation, which may fall during the
period of the Programme.

 

Enquiries:

 Franchise Brands plc                                           + 44 (0) 1625 813231
 Stephen Hemsley, Executive Chairman
 Brian Hogan, Chief Financial Officer
 Julia Choudhury, Corporate Development Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   +44 (0) 20 3328 5656
 Jeremy Porter / Liz Kirchner (Corporate Finance)

 Amrit Nahal (Sales and Corporate Broking)

 Dowgate Capital Limited (Joint Broker)                         +44 (0) 20 3903 7715
 James Serjeant / Colin Climie / Nicholas Chambers

 MHP Communications (Financial PR)                              +44 (0) 20 3128 8100
 Katie Hunt / Catherine Chapman                                 +44 (0) 7884 494112
                                                                franchisebrands@mhpc.com

 

 About Franchise Brands plc

Franchise Brands is focused on building market-leading businesses in selected
customer segments, primarily via a franchise model. The Group currently has a
combined network of over 600 franchisees across six principal franchise brands
in the UK, North America and Europe. Our focus is on established brands which
can benefit from our shared support services, specialist sector expertise,
management experience and group resources.

Our B2B brands are Metro Rod, Metro Plumb, Filta, Willow Pumps and Azura, and
our principle B2C brands are ChipsAway, Ovenclean and Barking Mad. Each of
our brands are leaders in their respective markets. The combined trading
history of all the Group's brands is over 190 years. Franchise Brands employs
over 430 people from 5 principal offices in the UK as well as Orlando, Florida
and the Netherlands.

 

For further information, visit  www.franchisebrands.co.uk
(http://www.franchisebrands.co.uk/)  .

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