REG - Oxford Metrics PLC - Share Buyback Programme

Oxford MetricsAnnouncement

11/10/2024 07:15

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RNS Number : 7881H  Oxford Metrics PLC  11 October 2024

11 October 2024

Oxford Metrics plc

 

("Oxford Metrics" or the "Group")

 

Share Buyback Programme

 

11 October 2024 - Oxford Metrics plc (LSE: OMG) the smart sensing and software
company servicing life sciences, entertainment, engineering and smart
manufacturing markets, is pleased to announce a return of up to £6m of cash
to its shareholders through the means of an on-market share buyback programme
(the "Share Buyback Programme").

 

Oxford Metrics has entered into a non-discretionary arrangement with Numis
Securities Limited, trading as Deutsche Numis, to conduct the Share Buyback
Programme on its behalf starting from today. Under these arrangements,
Deutsche Numis will make trading decisions in relation to the buyback of the
Group's ordinary shares of 0.25 pence each independently of the Group within
the programme terms and pre-set parameters.

 

All ordinary shares repurchased by the Group under the Share Buyback Programme
will be cancelled.

 

Shares purchased under the Share Buyback Programme will take place in open
market transactions and may be made from time to time depending on market
conditions, share price and trading volumes. The Share Buyback Programme will
be effected under the authority granted by shareholders at the Group's 2024
Annual General Meeting to purchase a maximum of 13,142,713 Ordinary Shares.
This authority will expire at the conclusion of the next annual general
meeting of the Company in 2025, however the Board intend to seek renewal of
this power at its 2025 annual general meeting.

 

The Group has also today announced the acquisition of The Sempre Group
Holdings Ltd. The Group's priority is to continue to invest in the business
and deploy the Company's capital into accretive M&A. Given the Group's
cash balance, the Board believes the Share Buyback Programme will deliver
further value for shareholders, while maintaining its ability to pursue future
opportunities. A further update on capital allocation will be provided at the
Group's full year results on 3 December 2024.

 

The Programme will be conducted within the parameters of the Market Abuse
Regulation 596/2014/EU as it forms part of UK law by virtue of the European
Union (withdrawal) Act 2018, as amended and the delegated regulations made
pursuant to it, save that there may be circumstances where the Company
conducts share repurchases such that they exceed 25 per cent of the average
daily volume in Ordinary Shares for the 20 trading days prior to the share
repurchase.

 

The Group will make further announcements in due course following the
completion of any repurchases. There is no guarantee that the Share Buyback
Programme will be implemented in full or that any shares will be repurchased
by the Group.

 

The Group confirms that it currently has no unpublished price sensitive
information.

 

For further information please contact:

 

 Oxford Metrics                                          +44 (0) 1865 261860
 Imogen O'Connor, CEO
 Zoe Fox, CFO

 Deutsche Numis                                          +44 (0)20 7260 1000
 Simon Willis / Hugo Rubinstein / Tejas Padalkar

 FTI Consulting                                          +44 (0)20 3727 1000
 Matt Dixon / Emma Hall / Jamille Smith / Jemima Gurney

 

 

About Oxford Metrics

 

Oxford Metrics is a smart sensing and software company that enables the
interface between the real world and its virtual twin. Our smart sensing
technology helps over 10,000 customers in more than 70 countries, including
all of the world's top 10 games companies and all of the top 20 universities
worldwide. Founded in 1984, we started our journey in healthcare, expanded
into entertainment, winning an OSCAR® and an Emmy®, moved into defence,
engineering and smart manufacturing. We have a strong track record of creating
value by incubating, growing and then augmenting through acquisition, unique
technology businesses.

 

The Group trades through its market-leading division Vicon and, recently
acquired, Industrial Vision Systems, adding niche market strength in smart
manufacturing. Vicon is a world leader in motion measurement analysis to
thousands of customers worldwide, including Red Bull, Imperial College London,
Dreamscape Immersive, Industrial Light & Magic, and NASA. Industrial
Vision Systems is a specialist in machine vision software and technology for
high precision, automated quality control systems trusted by blue-chip, smart
manufacturing companies across the globe including BD, DePuy, Jaguar Land
Rover, Johnson & Johnson, Zytronic and Alkegen. The Group is headquartered
in Oxford with offices in California, Colorado, Kempten and Harwell. Since
2001, Oxford Metrics (LSE: OMG), has been a quoted company listed on AIM, a
market operated by the London Stock Exchange. For more information about
Oxford Metrics, visit www.oxfordmetrics.com
(file:///C%3A/Users/imoorhouse/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/ERABXDZ6/www.oxfordmetrics.com)
.

 

 

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