Craneware plc Share Buyback Programme (8866V)
12 Abril 2023 - 3:00AM
UK Regulatory
TIDMCRW
RNS Number : 8866V
Craneware plc
12 April 2023
12 April 2023
Craneware plc
("Craneware" or the "Company" or the "Group")
Share buyback programme
The Board of Directors of Craneware ("Board") is pleased to
announce that it intends to commence a share buyback programme of
GBP5 million ("Programme") from the date of this announcement. All
shares acquired under the Programme will be held in treasury.
The Board firmly believes that the current market price does not
reflect the substantial potential of the large addressable market
opportunity of the Group, nor the significant operational progress
it has made as it has successfully migrated to a cloud-based SaaS
model. This migration further positions the Group to deliver on
future growth and enhanced shareholder value. As a result, the
Board believes that the buyback will provide an optimal use of cash
to deliver value for shareholders by offsetting future dilution
from existing share incentive schemes.
The Programme will operate under the authority granted to the
Group by shareholders at the Group's most recent Annual General
Meeting, held on 15 November 2022, and within the regulatory limit
on the quantity of shares the Group may purchase on any single day.
The Programme will be undertaken using a phased approach and have
an initial duration of up to 3 calendar months.
The Board will keep the programme under review and will make a
decision in due course on whether to extend it.
In order to implement the Programme, Craneware has entered into
an agreement with Peel Hunt LLP for them independently to carry out
on-market purchases of its 1p shares. The Programme will be
conducted in compliance with Article 5(1)(b) of the UK version of
Regulation (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018 and the delegated
regulations made pursuant to it.
Enquiries:
Craneware plc +44 (0)131 550 3100
Keith Neilson, CEO
Craig Preston, CFO
Alma (Financial PR) +44 (0)20 3405 0205
Caroline Forde, Joe Pederzolli, Kinvara Verdon craneware@almapr.co.uk
Peel Hunt (NOMAD and Joint Broker) +44 (0)20 7418 8900
Dan Webster, Andrew Clark, Lait Bose
Investec Bank PLC (Joint Broker) +44 (0)20 7597 5970
Patrick Robb, Henry Reast, Sebastian Lawrence
Berenberg (Joint Broker ) +44 (0)20 3207 7800
Mark Whitmore, Richard Andrews, Dan Gee-Summons
About Craneware
We at The Craneware Group of companies, including our latest
additions Sentry Data Systems and Agilum Healthcare Intelligence,
passionately believe we can impact healthcare profoundly by
delivering the insights healthcare organisations need to also
transform the business of healthcare. Our shared vision is to be
the operational and financial partner for US healthcare
providers.
Our combined suite of applications and industry-leading team of
experts help our customers contextualise operational, financial,
and clinical data, providing insights that clearly demonstrate what
great looks like. These value cycle insights deliver revenue
integrity and 340B compliance, as well as margin and operational
intelligence - something no other single partner can provide.
Together, approximately 40% of registered US hospitals are now
our customers, including more than 12,000 US hospitals, health
systems and affiliated retail pharmacies and clinics. Our customers
are operating with a financial impact of nearly half a trillion
dollars. We have data sets from customers covering more than 165
million unique patients encounters.
Learn more at www.thecranewaregroup.com
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END
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April 12, 2023 02:00 ET (06:00 GMT)
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