REG - RWS Holdings PLC - Share Repurchase Programme

RWS HoldingsAnnouncement

14/06/2023 07:00

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RNS Number : 6159C  RWS Holdings PLC  14 June 2023

For immediate
release
                  14 June 2023

RWS Holdings plc

Share Repurchase Programme

As previously announced on 8 June 2023 in its half-year results for the six
months ended 31 March 2023, RWS Holdings plc ("RWS" or the "Company") is today
launching a share repurchase programme of up to £50 million to be executed by
the Company's next Annual General Meeting, expected to be held in February
2024 (the "Repurchase Programme").

RWS will execute the Repurchase Programme in two tranches. In respect of the
first tranche, RWS has today entered into a non-discretionary agreement with
Numis Securities Limited ("Numis") to purchase RWS's ordinary shares of 1
pence each ("RWS Shares") for an aggregate value (excluding expenses) of up to
£25 million pursuant to the Repurchase Programme (the "Initial Tranche").
Numis will act as riskless principal for the simultaneous on-sale of such RWS
Shares to RWS and will make its trading decisions concerning the timing of the
purchases of RWS Shares independently of and uninfluenced by RWS. Purchases of
RWS Shares under the Initial Tranche will commence today and end no later than
the date of the Company's next Annual General Meeting and will be carried out
on the London Stock Exchange.

The second tranche of the Repurchase Programme will commence promptly once
Numis has completed the Initial Tranche.  For the purposes of effecting the
second tranche, RWS has today entered into a non-discretionary agreement with
Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") to purchase
further RWS Shares for an aggregate value (excluding expenses) of up to £25
million (the "Second Tranche").  Berenberg will undertake the Second Tranche
on the same terms as Numis and will only commence share repurchases once the
Initial Tranche has been completed.  Purchases under the Second Tranche will
end no later than the date of the Company's next Annual General Meeting.

The aggregate purchase price of RWS Shares purchased by Numis and Berenberg
under the Repurchase Agreement will not exceed £50 million (exclusive of
expenses).  The purpose of the Repurchase Programme is to reduce the share
capital of RWS. To the extent permitted by law, all RWS Shares purchased under
the Repurchase Programme will be cancelled.

The Repurchase Programme will be conducted within certain pre-set parameters,
and in accordance with the general authority to repurchase shares granted by
RWS's shareholders at the 2023 Annual General Meeting and with 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) and
the AIM Rules.

The maximum number of RWS Shares which may be purchased by RWS under the
Repurchase Programme is 38,946,009, which is the maximum number permitted
pursuant to the authority granted by RWS's shareholders at the 2023 Annual
General Meeting.

RWS will announce any market repurchases of RWS Shares no later than 7.30 a.m.
on the business day following the date on which the repurchase occurred.

For further information, please contact:

 RWS Holdings plc

 Andrew Brode, Chairman

 Ian El-Mokadem, Chief Executive Officer

 Candida Davies, Chief Financial Officer                01753 480200

 MHP (Financial PR Advisor)                             rws@mhpc.com (mailto:rws@mhpc.com)

 Katie Hunt / Eleni Menikou / Catherine Chapman         020 3128 8100

                                                        07884 494112

 Numis (Nomad & Joint Broker)

 Stuart Skinner / Kevin Cruickshank / Will Baunton      020 7260 1000

 Berenberg (Joint Broker)

 Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff   020 3207 7800

About RWS:

RWS Holdings plc is a unique, world-leading provider of technology-enabled
language, content and intellectual property services. Through content
transformation and multilingual data analysis, our combination of AI-enabled
technology and human expertise helps our clients to grow by ensuring they are
understood anywhere, in any language.

Our purpose is unlocking global understanding. By combining cultural
understanding, client understanding and technical understanding, our services
and technology assist our clients to acquire and retain customers, deliver
engaging user experiences, maintain compliance and gain actionable insights
into their data and content.

Over the past 20 years we've been evolving our own AI solutions as well as
helping clients to explore, build and use multilingual AI applications. With
40+ AI-related patents and more than 100 peer-reviewed papers, we have the
experience and expertise to support clients on their AI journey.

We work with over 80% of the world's top 100 brands, more than three-quarters
of Fortune's 20 'Most Admired Companies' and almost all of the top
pharmaceutical companies, investment banks, law firms and patent filers. Our
client base spans Europe, Asia Pacific and North and South America. Our 65+
global locations across five continents service clients in the automotive,
chemical, financial, legal, medical, pharmaceutical, technology and
telecommunications sectors.

Founded in 1958, RWS is headquartered in the UK and publicly listed on AIM,
the London Stock Exchange regulated market (RWS.L).

For further information, please visit: www.rws.com.

 

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