REG - Franchise Brands PLC - Share Purchase Programme

Franchise BrandsAnnouncement

23/12/2022 07:00

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RNS Number : 6672K  Franchise Brands PLC  23 December 2022

23 December 2022

FRANCHISE BRANDS PLC

 

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

 

Share purchase programme

 

Franchise Brands plc (AIM: FRAN), a 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 January 2023 to 30 June 2023, 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 24 June 2022 to 22 December 2022 ("the period"), the EBT has
purchased 1,329,392 Ordinary Shares at an average price of £1.46 pence per
share. 90,265 Ordinary Shares held by the EBT have been used to satisfy the
exercise of options over Ordinary Shares. Accordingly, the EBT currently holds
1,774,915 Ordinary Shares (24 June 2022: 535,788 Ordinary Shares) which
represents 1.36 per cent. (24 June 2022: 0.44 per cent.) of the Company's
current issued share capital. The net cash cost to the Company during the
period was £1,836,722.

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
 Andrew Mallows, Interim Chief Financial Officer
 Julia Choudhury, Corporate Development Director

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

 Amrit Nahal (Sales & Corporate Broking)

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

 MHP (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 primarily
via a franchise model. The Group currently has a combined network of 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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