REG - Gaming Realms PLC - Share Buyback Programme

Gaming RealmsAnnouncement

31/03/2025 07:15

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RNS Number : 7818C  Gaming Realms PLC  31 March 2025

31 March 2025

Gaming Realms Plc

("Gaming Realms" or the "Company" together with its subsidiaries, the "Group")

Share Buyback Programme

Launch of Share Buyback Programme

Gaming Realms plc (AIM: GMR), the developer and licensor of mobile-focused
gaming content, announces the commencement of a share buyback programme to
purchase ordinary shares of 0.1 pence each in the capital of the Company
("Ordinary Shares") up to a maximum aggregate consideration of £6 million
(the "Share Buyback Programme").

As referenced in the Company's final results for the year ended 31 December
2024, announced today, the Company is debt free and has a strong cash position
of approximately £13.5 million. The Share Buyback Programme reflects the
Company's directors' continued confidence in its future prospects.

The Company remains committed to continuing to invest in the business to
deliver organic growth and returning surplus cash to shareholders.

Details of the Share Buyback Programme

Gaming Realms has given irrevocable and non-discretionary instruction to Peel
Hunt LLP ("Peel Hunt") and Investec Bank Plc ("Investec") (together the
Brokers) to conduct the Share Buyback Programme on its behalf, which will
commence today and will end no later than 31 August 2025 or, if earlier, the
conclusion of the Company's annual general meeting ("AGM") to be held in May
2025 unless the requisite authority is renewed at the AGM in May 2025. The
Brokers will act as "riskless" or "matched" principals for the purposes of the
Share Buyback Programme, within certain parameters, and will make their
trading decisions concerning the purchases of Ordinary Shares independently of
the Company.

Ordinary Shares purchased under the Share Buyback Programme will take place in
open market transactions and in accordance with the general authority to
purchase Ordinary Shares granted to the directors of the Company (the
"Directors") by its shareholders at the Company's AGM in 2024 (the "2024
Authority", or as subsequently granted to the Directors at its AGM in 2025).
The maximum number of Ordinary Shares which the Company is authorised to
purchase under the 2024 Authority is 29,477,644. The Share Buyback Programme
will be conducted in accordance with Article 5(1) of Regulation (EU) 596/2014,
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended) ("UK MAR") and the provisions of Commission
Delegated Regulation (EU) 2016/1052, as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 (as amended), which deal
with buyback programmes.

The maximum price (excluding any expenses) which may be paid for each Ordinary
Share shall not be more than the higher of (i) an amount equal to 105 per
cent. of the average of the middle market quotations for an Ordinary Share, as
derived from the AIM Appendix to the London Stock Exchange Daily Official
List, for the five business days immediately preceding the day on which the
Ordinary Share is contracted to be purchased, and (ii) an amount equal to the
higher of the price of the last independent trade of an Ordinary Share and the
highest current independent bid for an Ordinary Share as derived from the
trading venues on which the purchase is carried out.

Gaming Realms will announce any purchase of its Ordinary Shares under the
Share Buyback Programme no later than 7.30 a.m. on the business day following
the calendar day on which the purchase occurred. The Company will cancel any
Shares purchased or hold them in treasury to meet obligations arising from
share option programmes.

 

The Company will make further regulatory announcements in respect of any
repurchases of its Ordinary Shares as required by UK MAR and the AIM Rules.
The Company is satisfied that it is not currently in a closed period, nor is
it in possession of any inside information which has not previously been
disclosed via Regulatory Information Service.

 

 

For further information, please contact:

 

 Gaming Realms Plc                             0845 123 3773

 Michael Buckley, Executive Chairman

 Mark Segal, CEO

 Geoff Green, CFO

 Peel Hunt - NOMAD and Joint Corporate Broker  020 7418 8900
 George Sellar

 Lalit Bose

 Investec - Joint Corporate Broker             020 7597 4000
 Ben Farrow

 Lydia Zychowska

 Yellow Jersey                                 07747 788 221

 Charles Goodwin

 Annabelle Wills

 

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