REG - Videndum PLC - Share buyback and cancellation programme

VidendumAnnouncement

06/11/2024 08:45

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RNS Number : 1603L  Videndum PLC  06 November 2024

 

6 November 2024

 

Videndum plc

 

SHARE BUYBACK AND CANCELLATION

 

Videndum plc ("the Company") announces that on 5 November 2024 it commenced a
share buyback and cancellation programme ("Buyback Programme") of its ordinary
shares of 20p each (the "Ordinary shares"). The Company has appointed
Investec, as its corporate broker, to manage the buyback programme to
repurchase Ordinary shares on its behalf.

 

The Buyback Programme will take place in open market transactions and will be
a small buyback to eliminate new issue shares which are tied to a US share
plan over which options have been exercised during 2024.

 

The Buyback Programme is in accordance with the Company's general authority to
purchase a maximum of 9,420,120 Ordinary Shares, granted by its shareholders
at the Annual General Meeting held on 19 June 2024, including that the maximum
price paid per Ordinary Share is the highest of: a) an amount equal to 5%
above the average market immediately preceding the day on which that Ordinary
Share is contracted to be purchased; and b) the higher of the price of the
last independent trade and the highest current independent purchase bid for
Ordinary Shares on the trading venue where the purchase is carried out.

 

Under this Buyback Programme, the Company intends to cancel all the purchased
Ordinary Shares.

The Buyback Programme will be conducted within the parameters of the Market
Abuse Regulation 596/2014/EU and the Commission Delegated Regulation
2016/1052/EU (each as in force in the UK from time to time, including where
relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019.

The Company will make further announcements in due course following any share
purchases conducted through the Buyback Programme.

The Company confirms that it currently has no unpublished price sensitive
information.

 

Enquiries:

 

Jon Bolton

Group Company Secretary

Telephone: 020 8332 4600

 

 

A snapshot of Videndum plc

Videndum is a leading global provider of premium branded hardware products and
software solutions to the growing content creation market.

 

Videndum's customers include broadcasters, film studios, production and rental
companies, photographers, independent content creators, gamers, professional
musicians and enterprises. Our product portfolio includes camera supports,
video transmission systems and monitors, live streaming solutions, smartphone
accessories, robotic camera systems, prompters, LED lighting, mobile power,
carrying solutions, backgrounds, motion control, audio capture, and noise
reduction equipment.

 

We employ around 1,600 people across the world in 10 different countries.
Videndum plc is listed on the London Stock Exchange, ticker: VID.

 

More information can be found at: https://videndum.com/
(https://videndum.com/)

 

LEI number: 2138007H5DQ4X8YOCF14

 

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