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Fuller, Smith & Turner PLC (FSTA)
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER FOR SALE OF ANY SECURITIES OR AN OFFER OR INVITATION TO PURCHASE ANY SECURITIES IN ANY JURISDICTION OR A SOLICITATION OF ANY VOTE OR APPROVAL.
Fuller, Smith & Turner P.L.C. (“the Company”) Share Buyback Programme Further to the announcement of the Financial Results for the 26 weeks to 30 September 2023 made on 15 November 2023, the Company has entered into an arrangement with Numis Securities Limited (“Deutsche Numis”) to repurchase up to 1 million ‘A’ ordinary shares of 40 pence each in the Company (“Ordinary Shares”) (the “Programme”). This is consistent with the Company’s capital allocation framework and reflects the Board’s view that the current share price continues to represent a significant discount to the Company’s underlying net asset value. The Programme is expected to enhance earnings per share. The share purchases will be made on the Company's behalf and in accordance with the arrangement and, in the case of any purchases made during closed periods and/or at any time when the Company has inside information, shall be made independently of and uninfluenced by the Company. Any purchase of Ordinary Shares effected pursuant to this Programme will be carried out on the London Stock Exchange and executed in accordance with, and subject to limits prescribed by, the Listing Rules and in accordance with the authorisation granted to the Board by shareholders at the Annual General Meeting of the Company held on 20 July 2023. Due to the limited liquidity in the issued Ordinary Shares, any buyback of Ordinary Shares pursuant to the authority on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on the London Stock Exchange and may exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and the Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) dealing with buyback programmes and, accordingly, the Company will not benefit from the exemption contained in that Article. Any market purchase of ‘A’ Ordinary Shares under the Programme will be announced no later than 7:30 a.m. on the business day following the day on which the purchase occurred. Enquiries: Rachel Spencer 16 November 2023 Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
| ISIN: | GB00B1YPC344 |
| Category Code: | POS |
| TIDM: | FSTA |
| LEI Code: | 213800C7ACOFMRCQQW76 |
| Sequence No.: | 285430 |
| EQS News ID: | 1775223 |
| End of Announcement | EQS News Service |
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