REG - Gamma Communications - Share buyback Programme

Gamma CommunicationsAnnouncement

25/03/2025 07:15

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RNS Number : 9599B  Gamma Communications PLC  25 March 2025

25 March 2025

Gamma Communications plc

("Gamma" or the "Company")

Share buyback Programme

Gamma Communications plc, a leading provider of technology-based communication
solutions across Europe, announces a share buyback programme to purchase
ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") for an
aggregate purchase of up to £50 million (the "Buyback Programme"), within
certain pre-set parameters. The Ordinary Shares acquired under the Buyback
Programme will either be cancelled or held in treasury as described below..

The Company has instructed Peel Hunt LLP ("Peel Hunt"), the Company's
Nominated Adviser and Joint Broker, to conduct the Buyback Programme on its
behalf. The Buyback Programme will be effected within certain pre-set
parameters, including that the maximum price paid per Ordinary Share shall be
105 per cent. of the average trailing 5-day mid-market closing price, in
accordance with the authority granted at Gamma's 2024 annual general meeting
("AGM") to purchase a maximum of 9,685,669 Ordinary Shares with 1,910,596
Ordinary Shares previously purchased under this authority.

The Buyback Programme will be effective from the date of this announcement and
will expire on Monday 30 June, subject to reapproval of the relevant share
purchase authorities at the forthcoming AGM on 14 May 2025, or earlier, if the
maximum aggregate consideration of £50 million has been reached.

A buyback of Ordinary Shares on any trading day may represent a significant
proportion of the daily trading volume and may exceed 25 per cent. of the
average daily trading volume. Accordingly, the Company will not benefit from
the exemption contained in Article 5(1) of the UK version of the Market Abuse
Regulation (Regulation (EU) No 596/2014) as incorporated into UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

The purpose of the Buyback Programme is to reduce the Company's share capital
(any Shares repurchased for this purpose will be cancelled) and to enable the
Company to meet obligations arising from share option programmes (any Shares
repurchased for this purpose will be held in treasury).

The Company will make further announcements in due course following the
completion of any repurchases as required by UK MAR. The Company is satisfied
that it is not currently in a closed period, nor is it party to any inside
information which has not previously been disclosed via Regulatory Information
Service.

 

 Enquiries:

 Gamma Communications plc                         Tel: +44 (0)333 006 5972

 Andrew Belshaw, Chief Executive Officer

 Bill Castell, Chief Financial Officer

 Rachael Matzopoulos, Company Secretary

 Peel Hunt (NOMAD & Broker)                       Tel: +44 (0)207 418 8900

 Neil Patel / Benjamin Cryer / Kate Bannatyne

 Deutsche Numis (Broker)                          Tel: +44 (0)207 260 1000

 Simon Willis / Hugo Rubinstein / Spencer Clark

 Teneo (PR Adviser)                               Tel: +44 (0)207 353 4200

 James Macey White / Matt Low / Ffion Dash

Notes for editors:

Gamma Communications is a leading provider of technology-based communication
solutions across Europe. With approximately 2,200 employees and admitted to
trading on AIM, Gamma helps organisations connect and collaborate through
solutions including Unified Communications, voice enablement, connectivity,
mobile and security.

Gamma's vision is a better-connected world - working smarter for the benefit
of businesses, people and the planet. Selling exclusively to businesses and
public sector organisations, Gamma's core markets are the UK and Germany, with
additional presence in Spain and the Benelux region.

In the UK, Gamma serves SMEs through an extensive network of over 1,500
channel partners (Gamma Business). For larger businesses and public sector
organisations, Gamma Enterprise engages directly to sell, deliver, and support
more complex, integrated communications solutions. In Germany, Gamma operates
through a combination of a self-service digital platform and a strong partner
network and is now one of the country's leading cloud communications providers
following strategic acquisitions.

For more information about Gamma and its full range of products and services,
visit gammagroup.co (http://gammagroup.co)

 

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