11
October 2024
Oxford Metrics
plc
("Oxford Metrics" or the
"Group")
Share Buyback
Programme
11 October 2024 - Oxford Metrics plc
(LSE: OMG) the smart sensing and software company servicing life
sciences, entertainment, engineering and smart manufacturing
markets, is pleased to announce a return of up to £6m of cash to
its shareholders through the means of an on-market share buyback
programme (the "Share Buyback Programme").
Oxford Metrics has entered into a
non-discretionary arrangement with Numis Securities Limited,
trading as Deutsche Numis, to conduct the Share Buyback Programme
on its behalf starting from today. Under these arrangements,
Deutsche Numis will make trading decisions in relation to the
buyback of the Group's ordinary shares of 0.25 pence each
independently of the Group within the programme terms and pre-set
parameters.
All ordinary shares repurchased by
the Group under the Share Buyback Programme will be
cancelled.
Shares purchased under the Share
Buyback Programme will take place in open market transactions and
may be made from time to time depending on market conditions, share
price and trading volumes. The Share Buyback Programme will be
effected under the authority granted by shareholders at the Group's
2024 Annual General Meeting to purchase a maximum of 13,142,713
Ordinary Shares. This authority will expire at the conclusion of
the next annual general meeting of the Company in 2025, however the
Board intend to seek renewal of this power at its 2025 annual
general meeting.
The Group has also today announced
the acquisition of The Sempre Group Holdings Ltd. The Group's
priority is to continue to invest in the business and deploy the
Company's capital into accretive M&A. Given the Group's cash
balance, the Board believes the Share Buyback Programme will
deliver further value for shareholders, while maintaining its
ability to pursue future opportunities. A further update on capital
allocation will be provided at the Group's full year results on 3
December 2024.
The Programme will be conducted
within the parameters of the Market Abuse Regulation 596/2014/EU as
it forms part of UK law by virtue of the European Union
(withdrawal) Act 2018, as amended and the delegated regulations
made pursuant to it, save that there may be circumstances where the
Company conducts share repurchases such that they exceed 25 per
cent of the average daily volume in Ordinary Shares for the 20
trading days prior to the share repurchase.
The Group will make further
announcements in due course following the completion of any
repurchases. There is no guarantee that the Share Buyback Programme
will be implemented in full or that any shares will be repurchased
by the Group.
The Group confirms that it currently
has no unpublished price sensitive information.
For
further information please contact:
Oxford Metrics
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+44
(0) 1865 261860
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Imogen O'Connor, CEO
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Zoe Fox, CFO
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|
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Deutsche Numis
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+44
(0)20 7260 1000
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Simon Willis / Hugo Rubinstein /
Tejas Padalkar
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FTI
Consulting
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+44
(0)20 3727 1000
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Matt Dixon / Emma Hall / Jamille
Smith / Jemima Gurney
|
|
About Oxford Metrics
Oxford Metrics is a smart sensing
and software company that enables the interface between the real
world and its virtual twin. Our smart sensing technology helps over
10,000 customers in more than 70 countries, including all of the
world's top 10 games companies and all of the top 20 universities
worldwide. Founded in 1984, we started our journey in healthcare,
expanded into entertainment, winning an OSCAR® and an Emmy®, moved
into defence, engineering and smart manufacturing. We have a strong
track record of creating value by incubating, growing and then
augmenting through acquisition, unique technology
businesses.
The Group trades through its
market-leading division Vicon and, recently acquired, Industrial
Vision Systems, adding niche market strength in smart
manufacturing. Vicon is a world leader in motion measurement analysis to thousands of customers
worldwide, including Red Bull, Imperial College London, Dreamscape
Immersive, Industrial Light & Magic, and NASA. Industrial
Vision Systems is a specialist in machine vision software and
technology for high precision, automated quality control systems
trusted by blue-chip, smart manufacturing companies across the
globe including BD, DePuy, Jaguar Land Rover, Johnson &
Johnson, Zytronic and Alkegen. The Group is headquartered in Oxford
with offices in California, Colorado, Kempten and Harwell. Since
2001, Oxford Metrics (LSE: OMG), has been a quoted company listed
on AIM, a market operated by the London Stock Exchange. For more
information about Oxford Metrics, visit
www.oxfordmetrics.com.