REG - Telecom Plus PLC - Launch of Share Buyback Programme

Telecom PlusAnnouncement

22/11/2023 07:15

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RNS Number : 2056U  Telecom Plus PLC  22 November 2023

22 November 2023

 

Telecom Plus PLC

("Telecom Plus" or the "Company")

 

Launch of Share Buyback Programme

 

Telecom Plus today announces that it intends to commence a new share buyback
programme in respect of its ordinary shares of £0.05 each ("Ordinary Shares")
up to a maximum consideration of £10 million from the date of this
announcement (the "Share Buyback Programme").

 

Details of the Share Buyback Programme

Telecom Plus has given irrevocable and non-discretionary instructions to Peel
Hunt LLP ("Peel Hunt") in relation to the Share Buyback Programme, which will
commence on 22 November 2023. Peel Hunt will act as principal during the Share
Buyback Programme and will make trading decisions concerning the timing of the
purchases of Ordinary Shares independently of the Company.

 

The maximum amount allocated to the Share Buyback Programme is £10 million.
Any market repurchase of Ordinary Shares will be announced no later than 7:30
a.m. on the business day following the calendar day on which the repurchase
occurred. All Ordinary Shares repurchased will be held as treasury shares.

 

Any purchases of Ordinary Shares contemplated by this announcement will be
effected within certain pre-set parameters. These arrangements are in
accordance with the general authority granted by the Company's shareholders at
its Annual General Meeting held on 4 August 2023 (the "2023 AGM"), Chapter 12
of the Listing Rules, and those provisions of Article 5(1) of Regulation (EU)
No. 596/2014 (as incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052
(as incorporated into UK domestic law by the European Union (Withdrawal) Act
2018) dealing with buyback programmes.

 

Details of the authority granted at the 2023 AGM can be found on our website
under:
https://otp.tools.investis.com/clients/uk/telecom_plus/rns/regulatory-story.aspx?cid=2653&newsid=1707606
(https://otp.tools.investis.com/clients/uk/telecom_plus/rns/regulatory-story.aspx?cid=2653&newsid=1707606)

Enquiries:

For more information, please contact:

 Telecom Plus PLC

 Stuart Burnett                020 8955 5000

 Andrew Lindsay

 Nick Schoenfeld
 Peel Hunt

 Dan Webster / Andrew Clark    020 7418 8900
 Deutsche Numis

 Mark Lander / Joshua Hughes   020 7260 1000
 For investor relations:

 Julian Wais                   07720 999764

                               jwais@uw.co.uk
 For media relations:

 Lansons Communications LLP    07860 101715 / 07783 387713

                               utilitywarehouse@lansons.com

 Tom Baldock / Ed Hooper

 
 
 

 
 
 

LEI code: 549300QGHDX5UKE58G86

 

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