REG - Gattaca PLC - Continuation of Share Buy-back

GattacaAnnouncement

13/11/2023 07:00

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RNS Number : 1398T  Gattaca PLC  13 November 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

 

13 November 2023

 

Gattaca plc

 

("Gattaca", the "Company" or "the Group")

 

Continuation of Share Buy-back

 

On 21 August 2023 Gattaca plc ("Gattaca", the "Company" or the "Group"), the
specialist staffing solutions business, announced its intention to return up
to £0.5 million to shareholders via a series of share repurchases (the "Share
Buy-back"). Over the weeks following this announcement, Gattaca returned
approximately £390k to shareholders prior to going into a close period on 23
September 2023 pending release of the Group's FY23 results, at which point the
Share Buy-back was halted.

 

The Company today confirms the relaunch of the Share Buy-back, to repurchase
ordinary shares in the capital of the Company ("Ordinary Shares") up to an
aggregate value of approximately £109k, being the remaining balance of the
£0.5 million intended to be returned to shareholders[, as announced on 21
August 2023.]

 

The Share Buy-back will be operated in accordance with the terms of the
Company's general authority to repurchase Ordinary Shares granted by
shareholders at its annual general meeting (the "AGM"), held on 6 December
2022.

 

In accordance with the authority granted at the AGM; a) the aggregate number
of Ordinary Shares to be repurchased will not exceed 2,448,101 (being the
remaining balance of the shareholder authority when taking into account the
various share repurchases by the Company since the AGM); b) the minimum price
which may be paid for each Ordinary Share will be £0.01; and c) the maximum
price (excluding expenses) which may be paid for each Ordinary Share will be
105% of the average middle market quotations for an Ordinary Share as derived
from the AIM appendix to the Daily Official List of the London Stock Exchange
plc for the five business days immediately preceding the day on which the
Ordinary Share is contracted to be purchased.

 

The Company intends to limit (but retains discretion over) the number of
Ordinary Shares repurchased daily, such that the aggregate price paid (being
the total number of Ordinary Shares repurchased multiplied by the average
price paid for each Ordinary Share, including expenses) on any given trading
day is expected to not exceed £50,000.

 

Shareholders should be aware that a purchase of Ordinary Shares by the Company
on any trading day may represent a significant proportion of the daily trading
volume in the Ordinary Shares and could exceed 25 per cent. of the average
daily trading volume of the preceding 20 business days. Should that be the
case, the Company could exceed the pricing and/or volume restrictions as
established by the Commission Delegated Regulation 2016/1052/EU (as in force
in the UK and as amended by the FCA's Technical Standards (Market Abuse
Regulation) (EU Exit) Instrument 2019) (the "Regulation") and therefore the
Share Buy-back may not fall within the safe harbour provisions of the
Regulation.

 

As part of the Share Buy-back, Liberum Capital Limited, the Company's broker,
has been appointed to purchase the Ordinary Shares as principal. Ordinary
Shares purchased pursuant to the Share Buy-back will be cancelled.

 

For further information please contact:

 Gattaca plc                                 +44 (0) 1489 898989
 Matthew Wragg, Chief Executive Officer

 Oliver Whittaker, Chief Financial Officer

 Liberum Capital Limited (Nomad and Broker)  +44 (0) 20 3100 2000
 Lauren Kettle

 Richard Lindley

 IFC Advisory                                +44 (0) 203 934 6630
 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

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