EPE Special Opps Ltd - Announcement of ZDP Share Buybacks
Announcement provided by
EPE Special Opportunities Ltd · EO.P01/11/2024 07:00
EPE Special Opportunities Limited
Announcement of ZDP Share Buybacks
EPE Special Opportunities Limited ("ESO" or the "Company") announces its intention to commence purchases of up to 3,000,000 of the Company's zero dividend preference shares ("ZDP Shares") from today's date up to and including 20 December 2024 ("Share Buybacks"), at pricing up to the accrued redemption yield of the ZDP Shares as at the date of purchase.
The proposed Share Buybacks will be funded by the Company's cash reserves. Any ZDP Shares purchased by the Company will be held in treasury.
The Board believes that the current low level of liquidity in the ZDP Shares may restrict its ability to purchase ZDP Shares. Accordingly, the Company has agreed that on any given trading day Share Buybacks may exceed 25 per cent. of the average daily trading volume on each trading platform on which the Company's ZDP Shares are traded.
The Company may, where it considers appropriate, undertake Share Buybacks at a price that exceeds the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out (being the price stipulated by Article 3(2) of the Commission Delegated Regulation (EU) 2016/1052 (Commission Delegated Regulation), as referred to in Article 5(6) of the Market Abuse Regulation).
The proposed Share Buybacks will be effected on behalf of the Company by Panmure Liberum Limited.
Details of purchases of any ZDP Shares made by the Company will be notified to a Regulatory Information Service by the Company following any repurchase as required by the Market Abuse Regulation.
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.
This announcement contains inside information. The person responsible for releasing this information on behalf of the Company is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.
Enquiries:
|
EPIC Investment Partners LLP |
+44 (0) 207 269 8860 Rupert Palmer
|
|
Panmure Liberum Limited |
+44 (0) 20 3100 2190 Chris Clarke
|
|
|
|
|
Langham Hall Fund Management (Jersey) Limited |
+44 (0) 153 488 5200 Amanda Robinson |
|
|
|
|
Cardew Group Limited |
+44 (0) 207 930 0777 Richard Spiegelberg |
|
|
|
|
Deutsche Numis |
+44 (0) 207 260 1000 |
|
Nominated Advisor: |
Stuart Skinner |
|
Corporate Broker: |
Charles Farquhar |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
