EPE Special Opportunities Limited Announcement of Buy Backs & Prospective Investment (2451B)
30 Settembre 2022 - 9:00AM
UK Regulatory
TIDMESO TIDMEO.P TIDMEC.P TIDMEL.P
RNS Number : 2451B
EPE Special Opportunities Limited
30 September 2022
EPE Special Opportunities Limited
Announcement of Share Buy Backs and Prospective Investment
Announcement of Share Buy Backs
EPE Special Opportunities Limited ("ESO" or the "Company")
announces its intention to commence purchases of ordinary shares of
the Company ("Ordinary Shares") ("Share Buy Backs"), subject to
availability on attractive terms. The transactions will be in line
with the Company's stated policy to pursue Share Buy Backs.
The proposed Share Buy Backs will be funded by the Company's
cash reserves. Any Ordinary Shares purchased by the Company will be
held in treasury. Any Ordinary Shares acquired pursuant to the
Share Buy Backs will be announced to the market without delay.
The Board believes that the current low level of liquidity in
its issued ordinary shares may limit the progress in buying back
shares. Accordingly, the Company has agreed that on any given
trading day a buyback of shares under the share buyback programme
may exceed 25 percent of the average daily trading volume on each
trading platform on which the Company's shares are traded. Where a
buyback of shares exceeds 25 per cent of the average daily trading
volume on any trading platform, the Company will not fall within
the exemption contained in Article 5(1) MAR.
The Company may when appropriate undertake Share Buy Backs at a
price that exceeds the higher of the price of the last independent
trade and the highest current independent purchase bid on the
trading venue where the purchase is carried out (being the price
stipulated by Article 3(2) of the Commission Delegated Regulation
(EU) 2016/1052 (Commission Delegated Regulation), as referred to in
Article 5(6) of the Market Abuse Regulation).
The proposed Share Buy Backs will be effected on behalf of the
Company by its broker, Numis Securities Limited.
Any purchase of the Company's ordinary shares contemplated by
this announcement will be carried out on a regulated trading venue
and, save as detailed above, Market Abuse Regulation 596/2014 and
the Commission Delegated Regulation (EU) 2016/1052 (both as
incorporated into UK domestic law by the European Union
(Withdrawal) Act 2018).
Details of any ordinary shares repurchased will be notified to a
Regulatory Information Service by the Company following any
repurchase as required by the MAR.
This announcement does not constitute, or form part of, an offer
or any solicitation of an offer for securities in any
jurisdiction.
Prospective Investment
The Company is pleased to announce that it is in late-stage
negotiations to complete a minority investment of GBP2.0 million
into a fast-growing, UK-based, healthy and sustainable premium dog
snacks brand. The investment is expected to close imminently,
subject to the Company entering into a binding agreement.
The Company's cash balance as at 31 August 2022 (prior to the
proposed new investment) was GBP26.1 million. The proposed GBP2.0
million investment would represent 2.7% of the Company's net asset
value ("NAV") as at 31 August 2022. The investment would have no
impact on the Company's NAV.
The Company confirms that it currently has no unpublished Inside
Information.
The person responsible for releasing this information on behalf
of the Company is Amanda Robinson of Langham Hall Fund Management
(Jersey) Limited.
Enquiries:
EPIC Investment Partners LLP +44 (0) 207 269 8865
Alex Leslie
Langham Hall Fund Management (Jersey) +44 (0) 153 488 5200
Limited Amanda Robinson
Cardew Group Limited +44 (0) 207 930 0777
Richard Spiegelberg
Numis Securities Limited +44 (0) 207 260 1000
Nominated Advisor: Stuart Skinner
Corporate Broker: Charles Farquhar
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