26 January 2024
S4 Capital
plc
("S4Capital" or the
"Company")
Share Buyback
Programme
The Company
today announces the commencement of a Share Buyback Programme. The
Company has allocated an initial £2.7 million from its available
cash reserves to the Share Buyback Programme.
The Company
has engaged Dowgate Capital Limited as buy-back agent in relation
to the Share Buyback Programme. The maximum price payable per
ordinary shares of 25 pence each in the capital of the Company (the
"Ordinary Share")
(exclusive of expenses) will not exceed the higher of: (i) 105% of
the average middle market quotations for an Ordinary Share, as
derived from the London Stock Exchange Daily Official List, for the
five business days immediately
preceding the day on which the Ordinary
Share is contracted to be purchased; and (ii) an amount equal to
the higher of the price of the last independent trade of an
Ordinary Share and the highest current independent bid for an
Ordinary Share, as derived from the London Stock Exchange Trading
System.
The Share
Buyback Programme will be conducted in accordance with the general
authority to repurchase shares granted by the Company's
shareholders at the Company's Annual General Meeting on 9 June
2023 and within pre-set guidelines which
are within the parameters of the Market Abuse Regulation
596/2014/EU and the Commission Delegated Regulation 2016/1052/EU
(in each case, as it forms part of UK law pursuant to the
European Union (Withdrawal) Act 2018) and Chapter 12 of the
Financial Conduct Authority's Listing Rules. The Company will hold
as treasury shares any Ordinary Shares repurchased in accordance
with the provisions of the Companies Act 2006.
The Company
will announce any market repurchase of Ordinary Shares on the
business day following the calendar day on which the repurchase
occurred. The Company intends that the repurchased Ordinary Shares
will be held as treasury shares in
accordance with the provisions of the Companies Act
2006.
The Company
is satisfied that it is not currently in a closed period, nor is it
party to any inside information which has not previously been
disclosed via Regulatory Information Service.
Enquiries:
S4Capital
|
Tel: +44 (0)20 3793 0003
|
Sir Martin
Sorrell (Executive Chairman)
|
|
Powerscourt (PR Adviser to
S4Capital)
|
Tel: +44 (0) 7970 246 725
|
Elly Williamson
|
|
Pete
Lambie
|
|
About S4 Capital
S4 Capital plc (SFOR.L) is
the tech-led, new age/new era digital advertising, marketing and
technology services company, established by Sir Martin Sorrell in
May 2018.
Our strategy is to build a purely
digital advertising and marketing services business for global,
multinational, regional, and local clients, and millennial-driven
influencer brands. This will be achieved by integrating leading
businesses in three practices: Content, Data&Digital Media and
Technology Services, along with an emphasis on 'faster, better,
cheaper, more' execution in an always-on consumer-led environment,
with a unitary structure. Victor Knaap, Wesley ter Haar,
Christopher S. Martin, Scott Spirit and Mary Basterfield all joined
the S4 Capital Board as Executive Directors. The S4 Capital Board
also includes Rupert Faure Walker, Paul Roy, Daniel Pinto, Sue
Prevezer, Elizabeth Buchanan, Naoko Okumoto, Margaret Ma Connolly,
Miles Young and Colin Day.
The Company now has approximately
7,700 people in 32 countries with approximately 80% of net revenue
across the Americas, 15% across Europe, the Middle East and Africa
and 5% across Asia-Pacific. The longer-term objective is a
geographic split of 60%:20%:20%. Content currently accounts for
approximately 60% of net revenue, Data&Digital Media 25% and
Technology Services 15%. The long-term objective for the practices
is a split of 50%:25%:25%.
Sir Martin was CEO of WPP for 33
years, building it from a £1 million 'shell' company in 1985 into
the world's largest advertising and marketing services company,
with a market capitalisation of over £16 billion on the day he
left. Prior to that Sir Martin was Group Financial Director of
Saatchi & Saatchi Company Plc for nine years.