REG - Robert Walters PLC - Commencement of Share Buyback Programme

Robert WaltersAnnouncement

11/08/2022 07:00

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RNS Number : 6270V  Robert Walters PLC  11 August 2022

11 August 2022

ROBERT WALTERS PLC

(the 'Company' or the 'Group')

Commencement of Share Buyback Programme

Further to the Company's announcement dated 28 July 2022, the Company confirms
the commencement of a share buyback programme (the "Programme") to purchase
ordinary shares of 20 pence each in the Company ("Ordinary Shares") with an
aggregate value of up to £10 million.

The purpose of the Programme is to reduce the Company's share capital and it
is intended that Ordinary Shares purchased shall be cancelled. The Programme
is expected to commence today and will end at the earlier of the conclusion of
the Company's 2023 Annual General Meeting and 30 June 2023.

The Group will seek to make market purchases of Ordinary Shares a price or
prices that the Group believes will be good value for shareholders. In view of
the level of trading liquidity in the Company's Ordinary Shares, the Group may
make purchases in excess of the price and volume restrictions set out in
Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part
of Retained EU Law as defined in the European Union (Withdrawal) Act 2018) and
the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of
Retained EU Law as defined in the European Union (Withdrawal) Act 2018),
subject to prevailing market conditions and liquidity.

Any purchases of Ordinary Shares by the Company in relation to the Programme
will be conducted in accordance with the Company's general authority to
repurchase Ordinary Shares granted by its shareholders at the Annual General
Meeting held on 28 April 2022 (the "General Authority"), any further approvals
to purchase shares as may be granted by its shareholders from time to time,
and Chapter 12 of the Listing Rules. Under the General Authority, the Company
is permitted to make purchases of up to 7,669,939 Ordinary Shares.

The Company has entered into an irrevocable, non-discretionary instruction
with Investec Bank plc ("Investec") to conduct the Programme on its behalf and
to make trading decisions under the Programme independently of the Company.

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

At the time of this announcement, the Company's issued share capital consists
of 80,945,360 Ordinary Shares, of which 4,074,000 Ordinary Shares are held in
treasury, and the total number of voting rights in the Company is therefore
76,871,360.

- Ends -

 

Further information:

 Robert Walters plc                           +44 20 7379 3333

   Robert Walters, Chief Executive

   Alan Bannatyne, Chief Financial Officer

 Williams Nicolson                            +44 7767 345 563

    Steffan Williams

 

About Robert Walters Group

The Robert Walters Group is a market-leading international specialist
professional recruitment group with over 4,000 staff spanning 32 countries. We
specialise in the placement of the highest calibre professionals across the
disciplines of accountancy and finance, banking, engineering, HR, healthcare,
IT, legal, sales, marketing, secretarial and support and supply chain,
logistics and procurement. Our client base ranges from the world's leading
blue-chip corporates and financial services organisations through to SMEs and
start-ups. The Group's outsourcing division, Resource Solutions is a market
leader in recruitment process outsourcing and managed services.

www.robertwaltersgroup.com (http://www.robertwaltersgroup.com/)

 

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