TIDMFRAN

RNS Number : 5343Y

Franchise Brands PLC

02 January 2020

2 January 2020

FRANCHISE BRANDS PLC

("Franchise Brands", "the Group" or "the Company")

SHARE REPURCHASE PROGRAMME

Franchise Brands announces that from 1 January 2020 until 30 June 2020, it will continue its discretionary programme to buyback ordinary shares of 0.5 pence each in the Company ("Ordinary Shares"), up to a value of GBP200,000 (the "Programme"). This is a continuation of the programme that commenced in 2018 and has seen the Company purchase a total of [538,700] Ordinary Shares into treasury. Pursuant to the announcement on 28 August 2019, [513,700] Ordinary Shares held in treasury were withdrawn from treasury in part fulfillment of options exercised. The Company currently holds [25,000] Ordinary Shares in treasury.

The Group is cash generative and therefore intends to continue the share repurchase programme to offset the dilutive impact of employee share option awards, focusing on overall shareholder return. Ordinary Shares purchased under the Programme will therefore be held in Treasury to enable the Company to meet obligations arising from share option programmes.

The Programme will be conducted by the Company in accordance with and under the terms of the general authority granted by the Company's shareholders at the Company's Annual General Meeting on 23 April 2019 to purchase up to 7,773,203 shares. This authority will expire at the end of the next Annual General Meeting of the Company in 2020 or, if earlier, at the close of business on 23 July 2020 ("2019 Authority").

The Company has entered into an arrangement with its joint broker, Dowgate Capital Limited, to carry out on-market purchases of Ordinary Shares on its behalf under the Programme, including on a discretionary basis independent of the Company during any prohibited periods of the Company, as determined by the Market Abuse Regulation 596/2014/EU ("MAR"), which may fall during the period of the Programme. The Programme will be conducted in accordance with the provisions of MAR relating to share buy-back programmes, including in accordance with relevant conditions for trading, restrictions regarding time and volume, disclosure and reporting obligations, and price conditions. The Company confirms that it currently has no unpublished Inside Information.

Enquiries:

 
                                                 +44 (0) 1562 
 Franchise Brands plc                             826705 
 Stephen Hemsley, Executive Chairman 
 Chris Dent, Chief Financial Officer 
 
 
   Allenby Capital Limited (Nominated Adviser      +44 (0) 203 
   and Joint Broker)                               328 5656 
 Jeremy Porter / Liz Kirchner 
 
 
                                                   +44 (0) 203 
   Dowgate Capital Limited (Joint Broker)          903 7715 
 James Serjeant / Colin Climie 
 
                                                 +44 (0) 203 
 MHP Communications (Financial PR)                128 8100 
 Katie Hunt

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

POSFZGGMLZRGGZG

(END) Dow Jones Newswires

January 02, 2020 04:39 ET (09:39 GMT)

Grafico Azioni Franchise Brands (LSE:FRAN)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Franchise Brands
Grafico Azioni Franchise Brands (LSE:FRAN)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Franchise Brands