REG - S4 Capital PLC - Share Buyback Programme

S4 CapitalAnnouncement

26/01/2024 07:00

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RNS Number : 9824A  S4 Capital PLC  26 January 2024

26 January 2024

S4 Capital plc

("S(4)Capital" or the "Company")

Share Buyback Programme

The Company today announces the commencement of a Share Buyback Programme. The
Company has allocated an initial £2.7 million from its available cash
reserves to the Share Buyback Programme.

The Company has engaged Dowgate Capital Limited as buy-back agent in relation
to the Share Buyback Programme. The maximum price payable per ordinary shares
of 25 pence each in the capital of the Company (the "Ordinary Share")
(exclusive of expenses) will not exceed the higher of: (i) 105% of the average
middle market quotations for an Ordinary Share, as derived from the London
Stock Exchange Daily Official List, for the five business days immediately
preceding the day on which the Ordinary Share is contracted to be purchased;
and (ii) an amount equal to the higher of the price of the last independent
trade of an Ordinary Share and the highest current independent bid for an
Ordinary Share, as derived from the London Stock Exchange Trading System.

The Share Buyback Programme will be conducted in accordance with the general
authority to repurchase shares granted by the Company's shareholders at the
Company's Annual General Meeting on 9 June 2023 and within pre-set guidelines
which are within the parameters of the Market Abuse Regulation 596/2014/EU and
the Commission Delegated Regulation 2016/1052/EU (in each case, as it forms
part of UK law pursuant to the European Union (Withdrawal) Act 2018) and
Chapter 12 of the Financial Conduct Authority's Listing Rules. The Company
will hold as treasury shares any Ordinary Shares repurchased in accordance
with the provisions of the Companies Act 2006.

The Company will announce any market repurchase of Ordinary Shares on the
business day following the calendar day on which the repurchase occurred. The
Company intends that the repurchased Ordinary Shares will be held as treasury
shares in accordance with the provisions of the Companies Act 2006.

The Company is satisfied that it is not currently in a closed period, nor is
it party to any inside information which has not previously been disclosed via
Regulatory Information Service.

Enquiries:

 

 S(4)Capital                              Tel: +44 (0)20 3793 0003
 Sir Martin Sorrell (Executive Chairman)
 Powerscourt (PR Adviser to S(4)Capital)  Tel: +44 (0) 7970 246 725
 Elly Williamson
 Pete Lambie

About S4 Capital

 

S(4) Capital plc (SFOR.L) is the tech-led, new age/new era digital
advertising, marketing and technology services company, established by Sir
Martin Sorrell in May 2018.

 

Our strategy is to build a purely digital advertising and marketing services
business for global, multinational, regional, and local clients, and
millennial-driven influencer brands. This will be achieved by integrating
leading businesses in three practices: Content, Data&Digital Media and
Technology Services, along with an emphasis on 'faster, better, cheaper, more'
execution in an always-on consumer-led environment, with a unitary structure.
Victor Knaap, Wesley ter Haar, Christopher S. Martin, Scott Spirit and Mary
Basterfield all joined the S4 Capital Board as Executive Directors. The S4
Capital Board also includes Rupert Faure Walker, Paul Roy, Daniel Pinto, Sue
Prevezer, Elizabeth Buchanan, Naoko Okumoto, Margaret Ma Connolly, Miles Young
and Colin Day.

 

The Company now has approximately 7,700 people in 32 countries with
approximately 80% of net revenue across the Americas, 15% across Europe, the
Middle East and Africa and 5% across Asia-Pacific. The longer-term objective
is a geographic split of 60%:20%:20%. Content currently accounts for
approximately 60% of net revenue, Data&Digital Media 25% and Technology
Services 15%. The long-term objective for the practices is a split of
50%:25%:25%.

 

Sir Martin was CEO of WPP for 33 years, building it from a £1 million 'shell'
company in 1985 into the world's largest advertising and marketing services
company, with a market capitalisation of over £16 billion on the day he left.
Prior to that Sir Martin was Group Financial Director of Saatchi & Saatchi
Company Plc for nine years.

 

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