REG - Pebble Group (The) - Update on Share Buyback Programme

PebbleAnnouncement

11/12/2024 07:00

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RNS Number : 6004P  Pebble Group PLC (The)  11 December 2024

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11 December 2024

THE PEBBLE GROUP PLC

("The Pebble Group" of the "Group")

AIM: PEBB

Update on Share Buyback Programme

The Pebble Group, a leading provider of digital commerce, products and related
services to the global promotional products industry, announces an amendment
to its share buyback programme in the Group's ordinary shares of 1
pence each ("Ordinary Shares") launched with its retained corporate broker
Panmure Liberum Limited ("Panmure Liberum") on 8 August 2024 to execute up to
an initial maximum aggregate consideration of £4.36m (the "Amended Share
Buyback Programme").

The Company has to date relied upon the safe harbour conditions for trading as
set out in the EU Market Abuse Regulation (596/2014) (as in force in
the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in
the UK and as amended by the FCA's Technical Standards (Market Abuse
Regulation) (EU Exit) Instrument 2019) ("MAR").  However, due to the
illiquidity of the Group's Ordinary Shares, the safe harbour volume parameter
has constrained its ability to purchase Ordinary Shares within an efficient
and practicable timeframe and the Group has now decided to amend its agreement
with Panmure Liberum and conduct the Amended Share Buyback Programme on the
following basis:

·    Panmure Liberum will continue to manage the purchases on a
discretionary basis, purchasing Ordinary Shares within certain pre-set
parameters and making its trading decisions independently of, and uninfluenced
by, the Group. Purchases may therefore continue during any closed periods of
the Group.

·    The Amended Share Buyback Programme will be executed in accordance
with the authorities to repurchase Ordinary Shares granted by the Group's
shareholders at the Annual General Meeting ("AGM") held on 30 April 2024.

·    Any Ordinary Shares purchased will be cancelled, and therefore the
purpose of the Amended Share Buyback Programme is to reduce the issued share
capital of the Group accordingly.

·    The Group has authorised the Amended Share Buyback Programme to
commence from today and will continue whilst it retains the authority from
shareholders to repurchase Ordinary Shares until the earlier of: (i) the
maximum aggregate consideration payable by the Group has been reached or (ii)
at close of business on 30 June 2025 or, if earlier, at the conclusion of the
Company's AGM to be held in 2025.

·    Shareholders should be aware that the Amended Share Buyback Programme
may on any given trading day represent a significant portion of the daily
traded volume in the Group's Ordinary Shares on the London Stock Exchange, and
the Group expects daily volumes to exceed 25% of the average daily traded
volume on the London Stock Exchange. Accordingly, the Group may not benefit
from the exemption contained in Article 5(1) of MAR.

·    Outside of the above, the Amended Share Buyback Programme will be
conducted in accordance with the other safe harbour parameters as prescribed
by MAR.

Any market purchase of Ordinary Shares pursuant to the Share Buyback Programme
will be announced no later than 7:30am (UK time) on the business day following
the day on which the purchased occurred.

Ends

Enquiries

 The Pebble Group                                +44 (0) 750 012 4121

 Chris Lee, Chief Executive Officer

 Claire Thomson, Chief Financial Officer

 Panmure Liberum (Nominated Adviser and Broker)  +44 (0) 20 3100 2000

 Edward Mansfield

 Will King

 Josh Moss
 Temple Bar Advisory (Financial PR)              +44 (0) 207 183 1190

 Alex Child-Villiers                             pebble@templebaradvisory.com (mailto:pebble@templebaradvisory.com)

 Alistair de Kare-Silver

 Sam Livingstone

 

 

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