REG - Franchise Brands PLC - Share Purchase Programme

Franchise BrandsAnnouncement

26/06/2023 07:00

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RNS Number : 7849D  Franchise Brands PLC  26 June 2023

26 June 2023

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 2023 to 31 December 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 23 December 2023 to 23 June 2023 ("the Period"), the EBT has
purchased 18,420 Ordinary Shares at an average price of £2.00 pence per
share. 10,500 Ordinary Shares held by the EBT have been used to satisfy the
exercise of options over Ordinary Shares during the Period. Accordingly, the
EBT currently holds 1,782,835 Ordinary Shares (23 December 2022: 1,774,915
Ordinary Shares) which represents 0.92 per cent. (23 December 2022: 1.36 per
cent.) of the Company's current issued share capital. The net cash cost to the
Company during the period was £37,045.

 

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 507 910
 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

 Stifel Nicolaus Europe Limited (Joint Broker)                  +44 (0) 20 7710 7699
 Matthew Blawat / Francis North

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

 

About Franchise Brands plc

 

Franchise Brands is an international, multi-brand franchisor focused on
building market-leading businesses primarily via a franchise model. The Group
has a combined network of 650 franchisees across seven franchise brands in ten
countries covering the UK, North America and Europe.

 

Franchise Brands' focus is on B2B van-based reactive and planned services. The
Company owns several market-leading brands with a long trading history,
including Metro Rod, Metro Plumb, Filta and Pirtek in Europe, all of which
benefit from the Group's central support services, in particular technology,
marketing, management experience and other group resources. At the centre of
Franchise Brands' business building strategy is helping its franchisees grow
their businesses: "if they grow, we grow".

 

Franchise Brands employs some 690 people across the Group.

 

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

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