REG - Zegona Comm PLC - ZEGONA SHARE BUYBACK PROGRAMME – PROGRESS UPDATE

Zegona CommunicationsAnnouncement

03/09/2020 07:00

RNS Number : 8754X
  
Zegona Communications PLC
  
03 September 2020
  
 

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ZEGONA COMMUNICATIONS PLC ("Zegona")
 
                                                                                                                                LEI: 213800ASI1VZL2ED4S65
3 September 2020
 
ZEGONA SHARE BUYBACK PROGRAMME - PROGRESS UPDATE
 
On 24 June 2020 Zegona announced a Buyback1 programme of its Ordinary Shares2 for an aggregate purchase price of up to £10 million. Zegona's Board has set a Buyback Policy3 that allows shares to be acquired at prices up to the Underlying Asset Value Per Share4.
As part of this programme, Barclays Bank plc, on behalf of Zegona, has purchased the following number of Ordinary Shares:
 



Date of purchase:


02 September 2020




Number of shares purchased:


7,000




Volume weighted average price paid per share:


£1.090000




Lowest price paid per share:


£1.090000




Highest price paid per share:


£1.090000



 
Zegona intends to cancel these shares.
 
Detailed information about the individual purchases is available below.
 
As at 2 September, Zegona had purchased an aggregate of 2,965,101 shares for a total of £3,066,047 and cancelled 2,958,101 meaning the total number of voting rights in Zegona is 218,977,076, each carrying one vote per share.
 
 
 
 
 
 
 
 
 
 
ENQUIRIES
 
Tavistock (Public Relations adviser)
Tel: +44 (0)20 7920 3150
Lulu Bridges - lulu.bridges@tavistock.co.uk 
Jos Simson - jos.simson@tavistock.co.uk




 
Trade details:
 



Purchase date


Purchase time


Volume


Price


Platform


Transaction reference number




 02 Sept 2020


 11:40


 7,000


 £1.090000


XLON


 qu53nvlclibp



      
1.     The "Buyback" is Zegona's on-market share buyback programme for an aggregate purchase price of up to £10 million, announced on            24 June 2020
2.     Ordinary shares of £0.01 each in the capital of Zegona ("Ordinary Shares") 
3.     Zegona's "Buyback Policy" is that shares may be acquired at prices up to the Underlying Asset Value per Share on the day of purchase, subject also to normal market practice as regards buyback pricing, as set out in the Important Notices section of Zegona's buyback programme announcement dated 24 June 2020
4.     The "Underlying Asset Value per Share" is defined for any day as the value in pounds sterling on the previous trading day of Zegona's investment in Euskaltel (using the €/£ FX rate on that day) and net cash balance divided by the number of Zegona Ordinary Shares in issue
5.     These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests, or a change to their interest, in Zegona under the FCA's Disclosure Guidance and Transparency Rules.
 

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