REG-Fuller, Smith & Turner PLC Fuller, Smith & Turner PLC: Extension of Share Buyback Programme

Fuller Smith & TurnerAnnouncement

22/03/2024 07:00

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   Fuller, Smith & Turner PLC (FSTA)
   Fuller, Smith & Turner PLC: Extension of Share Buyback Programme

   22-March-2024 / 07:00 GMT/BST

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   THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE
   AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO  PURCHASE
   ANY SECURITIES  IN ANY  JURISDICTION  OR A  SOLICITATION  OF ANY  VOTE  OR
   APPROVAL.

   NOT FOR RELEASE, PUBLICATION OR  DISTRIBUTION (DIRECTLY OR INDIRECTLY)  IN
   WHOLE OR IN PART IN,  INTO OR FROM ANY JURISDICTION  WHERE TO DO SO  WOULD
   CONSTITUTE A  VIOLATION  OF  THE  RELEVANT LAWS  OR  REGULATIONS  OF  THAT
   JURISDICTION.

                 Fuller, Smith & Turner P.L.C. (“the Company”)

                      Extension of Share Buyback Programme

   As announced on 21 March 2024, following the repurchase of 1 million ‘A’
   ordinary shares of 40p each in the Company (“Ordinary Shares”) under an
   arrangement with Numis Securities Limited (the “Programme”) which
   commenced on 16 November 2023, the Company has decided to extend the
   Programme and repurchase up to a further 1 million Ordinary Shares. This
   is consistent with the Company’s capital allocation framework and reflects
   the Board’s view that the current share price continues to represent a
   significant discount to the Company’s underlying net asset value. The
   Programme is expected to enhance earnings per share.

   The share purchases will be made on the Company's behalf and in accordance
   with the arrangement and, in the case of any purchases made during closed
   periods and/or at any time when the Company has inside information, shall
   be made independently of and uninfluenced by the Company.

   Any purchase of Ordinary Shares effected pursuant to this Programme will
   be carried out on the London Stock Exchange and executed in accordance
   with, and subject to limits prescribed by, the Listing Rules and in
   accordance with the authorisation granted to the Board by shareholders at
   the Annual General Meeting of the Company held on 20 July 2023.

   Due to the limited liquidity in the issued Ordinary Shares, any buyback of
   Ordinary Shares pursuant to the authority on any trading day may represent
   a significant proportion of the daily trading volume in the Ordinary
   Shares on the London Stock Exchange and may exceed 25 per cent. of the
   average daily trading volume, being the limit laid down in Article 5(1) of
   Regulation (EU) No 596/2014 (as incorporated into UK domestic law by the
   European Union (Withdrawal) Act 2018) and the Commission Delegated
   Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the
   European Union (Withdrawal) Act 2018) dealing with buyback programmes and,
   accordingly, the Company will not benefit from the exemption contained in
   that Article.

   Any market purchase of Ordinary Shares under the Programme will be
   announced no later than 7:30 a.m. on the business day following the day on
   which the purchase occurred. 

   Enquiries:

   Rachel Spencer
   Company Secretary
   020 8996 2073

   22 March 2024

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00B1YPC344
   Category Code:  POS
   TIDM:           FSTA
   LEI Code:       213800C7ACOFMRCQQW76
   OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares
   Sequence No.:   311254
   EQS News ID:    1864795


    
   End of Announcement EQS News Service

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