Craneware plc Result of Share Buyback (6786C)

TIDMCRW

RNS Number : 6786C

Craneware plc

23 January 2018

Craneware plc

(the "Company" or "Group")

Result of Share Buyback

The Company today announces the results of the Share Buyback, details of which were set out in the announcement published by the Company on 16 January 2018 ("Share Buyback Announcement").

The Company confirms that the Share Buyback Price is GBP17.69, being the average closing market value of an Ordinary Share for the five business days up to and including 22 January 2018. At the Share Buyback Price of GBP17.69, the maximum aggregate number of Ordinary Shares that may be purchased pursuant to the Share Buyback (which had the capacity to return up to GBP15 million) is 847,936 Ordinary Shares (taking into account the impact of rounding).

A total of approximately 0.6 million Ordinary Shares have been indicatively tendered by Shareholders under the Share Buyback. Therefore all valid tenders will be satisfied in full and it is expected a total of approximately 0.6 million Ordinary Shares will be purchased under the Share Buyback equating to approximately GBP11 million.

As set out in the Share Buyback Announcement, such Ordinary Shares will be purchased by Peel Hunt pursuant to the Share Buyback and the Company will subsequently buy back such Ordinary Shares from Peel Hunt and then cancel them. A further announcement will be made by the Company once this has been effected and the issued share capital of the Company has changed.

Capitalised terms used in this announcement have the same meaning as ascribed to them in the Share Buyback Announcement made on 16 January 2018.

 
 For further information, 
  please contact: 
 Craneware plc 
  Keith Neilson              +44 (0)131 550 
  Craig Preston               3100 
 Peel Hunt LLP 
  Rory James-Duff (ECM) 
  Dan Webster                +44 (0)20 7418 
  George Sellar               8900 
 Alma PR 
  Caroline Forde 
  Hilary Buchanan            +44 (0)208 004 
  Robyn Fisher                4218

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 23, 2018 07:06 ET (12:06 GMT)

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