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29 October 2024
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Big Technologies
plc
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("Big
Technologies" or the "Company")
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Transaction in Own
Shares
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Big Technologies plc (AIM: BIG), the
UK-based remote people monitoring technology company, announces
that on 28 October 2024 it purchased 1,257 ordinary shares of £0.01
each in the Company (the "Repurchased Shares"), pursuant to the
share buyback programme (the "Buyback Programme") that was
announced on 27 September 2024, as follows (together the
"Transaction"):
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Date of purchase
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28 October 2024
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Number of ordinary shares
purchased
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1,257
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Highest price paid per ordinary
share
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131.5 pence
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Lowest price paid per ordinary
share
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131.5 pence
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Volume weighted average price paid
per ordinary share
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131.5 pence
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Total Voting Rights
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Following the Transaction, the
issued share capital of the Company remains unchanged at
298,568,721 and the Company now holds 405,138 shares in treasury.
The total voting rights in the Company is now 298,163,583 which may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in, Big Technologies
under the FCA's Disclosure Guidance and Transparency
Rules.
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The Company will make further
announcements in due course following the completion of any further
purchases pursuant to the Buyback Programme.
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In accordance with Article 5(1)(b)
of the Market Abuse Regulation (EU) No 596/2014 details of the
purchase of its own ordinary shares by the Company, which were all
executed through the Company's broker, Zeus Capital Limited, are
set out below:
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Schedule of Purchases:
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Shares
purchased:
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Big Technologies plc (ISIN:
GB00BN2TR932)
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Date of
purchases:
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28 October 2024
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Aggregate information:
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Aggregated Volume
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Volume-weighted average price (pence)
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Venue
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1,257
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131.5000
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London Stock Exchange
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Individual transactions:
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Volume
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Price
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Time
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1,257
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131.5000 pence
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12:40 UK
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Big
Technologies plc
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+44 (0) 19
2360 1910
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Sara Murray (Chief Executive
Officer)
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Daren Morris (Chief Financial
Officer)
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Zeus
(Nominated Adviser and Sole Broker)
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+44
(0) 203 829 5000
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Dan Bate / Kieran Russell (Investment
Banking)
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Benjamin Robertson (Equity Capital
Markets)
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About Big Technologies plc
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Big
Technologies is the parent company of Buddi, which was founded in
2005 by its current CEO, Sara Murray, following an initial idea to
create a GPS device small enough for a child to carry. Today, Big
Technologies is a proven supplier of innovative and high-quality
products and services to the remote personal monitoring industry.
Big Technologies provides products and services under a number of
brand and trading names, with 'Buddi' being the most well-known and
being used in respect of activities within the core criminal
justice market. Big Technologies (under the Buddi brand) has
created a leading, integrated technology platform (including both
hardware and software solutions) for remote monitoring of
individuals, providing state-of-the-art Electronic Monitoring (EM)
solutions on a SaaS-like, subscription basis.
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Electronic Monitoring in the criminal justice sector involves
utilising location technologies to remotely monitor and manage
people at all stages of the criminal justice system. The Company's
focus on the Criminal Justice market in the immediate term has been
demand-driven, with significant opportunities created by a
combination of favourable market tailwinds as electronic location
devices are increasingly recognised as alternatives to
imprisonment, and superior technological capability enabling the
Company to meet this demand effectively.
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Big
Technologies' criminal justice solution has been iteratively
developed over a 10-year period, utilising the knowledge of an
experienced management team listening to customers. The
solution consists of a proprietary software platform with modular
monitoring hardware, capable of being adapted to multiple
applications. The Company's criminal justice solution is
principally focussed around the "Buddi Smart Tag", an electronic
monitoring hardware device, and "Buddi Eagle", the in-house
developed, cloud-based monitoring software. Collectively, the
hardware and the intelligent tools integrated into Big
Technologies' software enable real-time tracking of monitored
individuals with high levels of accuracy and reliability. Buddi
evidences a substantial reduction in false alerts when compared to
competitor systems which, combined with the reduction in subsequent
investigations, can result in substantial cost savings for
customers.
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In
addition to the high levels of accuracy, the Buddi Smart Tag has
several key advantages over its competitors' devices. The tag is
lighter, smaller, has longer battery life and offers a simple,
contact free and shorter installation process, providing
substantial staff cost savings for customers. This superior product
design, coupled with the intelligent monitoring software, typically
comes at a small price premium to competitor devices. However, the
overall effectiveness and reliability of the solution, combined
with the substantial cost savings delivered as a result of reduced
monitoring costs, have helped Big Technologies deliver strong
revenue growth from both existing and new customers. The Company
leases its devices and software solutions to customers typically
based on daily or monthly rates.
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