REG - Nexteq PLC - Share Buy Back

NexteqAnnouncement

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RNS Number : 1919M  Nexteq PLC  19 December 2025

19 December 2025

Nexteq plc

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

Share Buy Back

 

Nexteq (AIM: NXQ), a leading technology solutions provider to customers in
selected industrial markets, announces that following the approval by
independent shareholders at the General Meeting of the Company held on 18
September 2025 (the "General Meeting"), it intends to commence a share buy
back programme to purchase up to 10 per cent of the issued share capital of
the Company (the "Buy Back").

 

The Directors believe that the Proposed Buy-Back Authority would be a
productive use of the Company's cash reserves and provides the opportunity to
repurchase shares at attractive levels to hold in treasury for the purpose of
satisfying future obligations in relation to its employees' or other share
schemes whilst at the same time enhancing earnings per share. The Directors
also believe that the Proposed Buyback Authority would provide Shareholders
with the flexibility, but without any compulsion, to realise value in respect
of all or some of their shareholdings and is a tax efficient method of
returning surplus cash to certain Shareholders. The Buy Back will return up to
£5.4m to shareholders.

 

The Board is mindful of the financial impact a share buy-back may have on the
Company and has therefore conducted a thorough exercise with regards to the
capital requirements of the Group, its prospects and its funding available,
whilst also taking into account the merits of providing greater short-term
liquidity for Ordinary Shares. The Board will only proceed to make market
purchases at prices which make sense for the Company and its Shareholders as a
whole and intends to only do so when there is a lack of liquidity for the
Ordinary Shares.

 

The Group's capital allocation policy remains unchanged, with a cash
generative business model and robust balance sheet with good liquidity
allowing it to invest in organic growth opportunities and take advantage of
acquisition opportunities.

 

The Directors have confirmed that none of them (or any persons connected with
them) will, nor do they have any current intention to, sell any of the
Ordinary Shares which they beneficially own to the Company should the Company
utilise the Proposed Buy-Back Authority.

 

The Buy Back is in accordance with the terms of the Group's authority to make
market purchases of its own ordinary shares of 0.1 pence each in the capital
of the Group ("Ordinary Shares") granted to it by shareholders on 18 September
2025 (the "Authority"), including that the maximum price paid per Ordinary
Share is to be no more than 105 per cent of the average middle market closing
price of an Ordinary Share for the five business days preceding the date of
any purchase.

 

The Buy Back commences today and will end on the conclusion of the next annual
general meeting of the Group, save that the Group may, before such expiry,
enter into a contract or contracts to purchase ordinary shares which would or
might be executed wholly or partly after such expiry and make purchases of
ordinary shares in pursuance of such contract or contracts as if the authority
conferred by Resolution 1 at the General Meeting had not expired.

 

The Group has instructed Cavendish Capital Markets Limited ("Cavendish") to
execute and manage the Buy Back on its behalf and has given irrevocable
instructions to Cavendish to make market purchases of Ordinary Shares on its
behalf, independently of the Group. Cavendish will make trading decisions in
relation to the Ordinary Shares independently of and uninfluenced by the Group
with such trading decisions being in line with the terms of the Buy Back.

 

Shareholders should be aware that the Buy Back will, insofar as is possible,
be conducted in accordance with the safe harbour parameters of MAR (as defined
below); however, the Buy Back may on any given trading day represent a
significant proportion of the daily trading volume in the Ordinary Shares on
the London Stock Exchange and could exceed 25 per cent of the average daily
trading volume. Accordingly, the Group may not benefit from the exemption
contained in Article 5(1) in 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 ("MAR").

 

Any market purchase of Ordinary Shares pursuant to the Buy Back will be
announced no later than 7.30am on the business day following the day on which
the purchase occurred.

 

 Nexteq PLC                                        Telephone: +44 (0)20 3597 6800

 Duncan Faithfull, Chief Executive Officer

 Matt Staight, Chief Financial Officer

 Nominated Adviser and Broker:                     Telephone: +44 (0) 20 7220 0500

 Cavendish Capital Markets Ltd

 Matt Goode / Edward Whiley (Corporate Finance)

 Tim Redfern / Harriet Ward (Corporate Broking)

 Financial PR:                                     Telephone: +44 (0)20 3405 0205

 Alma Strategic Communications

 Hilary Buchanan / Emma Thompson

 

About Nexteq

Nexteq (AIM: NXQ) is a strategic technology solutions provider to customers in
selected industrial markets. Through innovative technology solutions, it
enables manufacturers of global electronic equipment to outsource the design,
development, and supply of non-core aspects of their product offering. By
outsourcing elements of their technology stack to Nexteq, customers can focus
their product development effort on the most critical drivers of their
business' success.

The Group operates in six countries and services over 500 customers worldwide,
and its solutions are delivered through a global sales team and leverage the
Group's electronic hardware, software, display and mechanical engineering
expertise. Our Taiwan operation is at the heart of Asian supply networks and
facilitates cost effective manufacturing and strategic supply chain
management.

Nexteq operates two distinct brands: Quixant, a specialised computer platforms
provider, and Densitron, leaders in human machine interface. Founded in 2005
and later floating on the London Stock Exchange's AIM stock market as Quixant
plc, the Group rebranded to Nexteq in 2023.

Further information on Nexteq and its divisions can be found
at www.nexteqplc.com (http://www.nexteqplc.com/) .

 

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