REG - Treatt PLC - Share Buyback Programme

TreattAnnouncement

10/04/2025 07:02

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RNS Number : 4134E  Treatt PLC  10 April 2025

10 April 2025

Treatt PLC

("Treatt" or the "Company")

Share Buyback Programme

Launch of Share Buyback Programme

Treatt PLC, the manufacturer and supplier of natural ingredients for the
beverage, flavour and fragrance industries, is pleased to announce it will
commence a share buyback programme (the "Share Buyback Programme"), as
referenced in the Company's trading update released today.

Treatt has a strong balance sheet and the Board has considered the Share
Buyback Programme as part of the Company's capital allocation framework,
whilst also reflecting Treatt's strong cash performance together with the
Board's confidence in Treatt's strategy and medium term outlook.

Details of the Share Buyback Programme

The Company has appointed its corporate brokers, Investec Bank plc
("Investec") and Peel Hunt LLP ("Peel Hunt") (together, the "Brokers"), to
manage the share buyback programme to repurchase ordinary shares of 2 pence
each in the capital of the Company (the "Ordinary Shares") on the Company's
behalf from 10 April 2025, for a maximum aggregate consideration of £5
million (the "Buyback Amount"). The Share Buyback Programme will run until the
earlier of the Buyback Amount being utilised in the repurchase of Ordinary
Shares or the expiry of the 2025 Authority (defined below). Shares repurchased
will be held in treasury at the Company's discretion for later reissue or
cancellation.

Treatt has given irrevocable and non-discretionary instruction to Investec and
Peel Hunt to conduct the Share Buyback Programme on its behalf. The Brokers
will act as "riskless" or "matched" principals for the purposes of the Share
Buyback Programme, within certain parameters, and will make trading decisions
concerning the purchases of Ordinary Shares independently of the Company.

Shares purchased under the Share Buyback Programme will take place in open
market transactions and in accordance with the general authority to purchase
Ordinary Shares granted to the directors of the Company by its shareholders at
the Company's annual general meeting in 2025 (the "2025 Authority"). The
maximum number of Ordinary Shares which the Company is authorised to purchase
under the 2025 Authority is 6,120,976. In accordance with the 2025 Authority,
the maximum price (exclusive of expenses) which may be paid for an Ordinary
Share is an amount equal to the higher of (i) 5% above the average of the
middle market quotations for an Ordinary Share as derived from the London
Stock Exchange Daily Official List on the five business days immediately
preceding any Ordinary Shares being purchased and (ii) the higher of the price
of the last independent trade and the highest current independent bid for
Ordinary Shares on the trading venue where the purchase is carried out.
Furthermore, in accordance with the 2025 Authority, the minimum price which
may be paid for each Ordinary Share is 2 pence, being the nominal value of an
Ordinary Share. The Share Buyback Programme will be conducted in accordance
with Article 5(1) of Regulation (EU) 596/2014, as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended) ("UK
MAR") and the provisions of Commission Delegated Regulation (EU) 2016/1052, as
it forms part of UK domestic law by virtue of the European Union (Withdrawal)
Act 2018 (as amended), which deal with buyback programmes. The Share Buyback
Programme will also be conducted in accordance with Chapter 9 of the Financial
Conduct Authority's UK Listing Rules.

Treatt will make further regulatory announcements in respect of repurchases of
Ordinary Shares as required.

 

For further information, please contact:

 

 Treatt PLC                                  +44 (0) 1284 702500

 David Shannon, Chief Executive Officer

 Ryan Govender, Chief Financial Officer

 Investec Bank Plc - Joint Corporate Broker  +44 (0) 20 7597 5970
 Patrick Robb

 David Anderson

 Shalin Bhamra

 Peel Hunt LLP - Joint Corporate Broker      +44 (0) 20 7418 8900
 George Sellar

 Andrew Clark

 Finn Nugent

 MHP - Financial PR                          +44 (0) 20 3128 8100
 Tim Rowntree

 Eleni Menikou

 Veronica Farah

 

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