REG - Syncona Limited - Share Buyback Programme

SynconaAnnouncement

29/09/2023 07:15

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RNS Number : 1445O  Syncona Limited  29 September 2023

Syncona Limited

Share Buyback Programme

29 September 2023

Further to the announcement regarding the launch by Syncona Limited (the
"Company") of a share buyback programme of up to £40.0 million, the Company
announces that it has engaged Numis Securities Limited to conduct the share
buyback programme on its behalf.

Any share purchases under the share buyback programme will be made pursuant to
the authority to repurchase shares granted to the Company at its general
meeting held on 1 August 2023 which will expire immediately before the
Company's next AGM. Under this authority, the maximum number of shares which
may be repurchased is 100,332,465 (14.99% of the issued share capital at that
time).

The maximum price payable for a share on the Main Market of the London Stock
Exchange plc (the "Exchange") is an amount equal to the higher of:

·      105 per cent. of the average market value of the Company's shares
for the five business days immediately preceding the day on which such share
is contracted to be purchased; or

·      the higher of the price of the last independent trade and the
highest current independent bid on the Exchange.

The Company will initially rely on the safe harbour provisions for trading set
out in Article 5 of the Market Abuse Regulation 596/2014/EU dealing with
buyback programmes as onshored into UK legislation following Brexit. However,
if the safe harbour provisions were to constrain the Company's ability to
implement the buyback programme, the Company may subsequently decide to trade
outside of the safe harbour provisions.

The Company will announce any market repurchase of shares on the business day
following the calendar day on which the repurchase occurred. The Company
intends that the repurchased shares will be held in treasury.

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
a Regulated Information Service.

For further information:

Enquiries

 

Syncona Ltd

Annabel Clark

Tel: +44 (0) 7714 916615

 

FTI Consulting

Ben Atwell / Natalie Garland-Collins / Tim Stamper

Tel: +44 (0) 20 3727 1000

 

Numis Securities

Nathan Brown

Tel: +44 (0) 7260 1000

 

About Syncona

 

Syncona's purpose is to invest to extend and enhance human life. We do this
by creating and building companies to deliver transformational treatments to
patients in areas of high unmet need.

 

Our strategy is to create, build and scale companies around exceptional
science to create a diversified portfolio of 20-25 globally leading healthcare
businesses, across development stage and therapeutic areas, for the benefit of
all our stakeholders. We focus on developing treatments for patients by
working in close partnership with world-class academic founders and management
teams. Our balance sheet underpins our strategy enabling us to take a
long-term view as we look to improve the lives of patients with no or poor
treatment options, build sustainable life science companies and deliver strong
risk-adjusted returns to shareholders.

 

 

 

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