RWS Holdings PLC Share Repurchase Programme (6159C)
14 Junho 2023 - 3:00AM
UK Regulatory
TIDMRWS
RNS Number : 6159C
RWS Holdings PLC
14 June 2023
For immediate release 14 June 2023
RWS Holdings plc
Share Repurchase Programme
As previously announced on 8 June 2023 in its half-year results
for the six months ended 31 March 2023, RWS Holdings plc ("RWS" or
the "Company") is today launching a share repurchase programme of
up to GBP50 million to be executed by the Company's next Annual
General Meeting, expected to be held in February 2024 (the
"Repurchase Programme").
RWS will execute the Repurchase Programme in two tranches. In
respect of the first tranche, RWS has today entered into a
non-discretionary agreement with Numis Securities Limited ("Numis")
to purchase RWS's ordinary shares of 1 pence each ("RWS Shares")
for an aggregate value (excluding expenses) of up to GBP25 million
pursuant to the Repurchase Programme (the "Initial Tranche"). Numis
will act as riskless principal for the simultaneous on-sale of such
RWS Shares to RWS and will make its trading decisions concerning
the timing of the purchases of RWS Shares independently of and
uninfluenced by RWS. Purchases of RWS Shares under the Initial
Tranche will commence today and end no later than the date of the
Company's next Annual General Meeting and will be carried out on
the London Stock Exchange.
The second tranche of the Repurchase Programme will commence
promptly once Numis has completed the Initial Tranche. For the
purposes of effecting the second tranche, RWS has today entered
into a non-discretionary agreement with Joh. Berenberg, Gossler
& Co. KG, London Branch ("Berenberg") to purchase further RWS
Shares for an aggregate value (excluding expenses) of up to GBP25
million (the "Second Tranche"). Berenberg will undertake the Second
Tranche on the same terms as Numis and will only commence share
repurchases once the Initial Tranche has been completed. Purchases
under the Second Tranche will end no later than the date of the
Company's next Annual General Meeting.
The aggregate purchase price of RWS Shares purchased by Numis
and Berenberg under the Repurchase Agreement will not exceed GBP50
million (exclusive of expenses). The purpose of the Repurchase
Programme is to reduce the share capital of RWS. To the extent
permitted by law, all RWS Shares purchased under the Repurchase
Programme will be cancelled.
The Repurchase Programme will be conducted within certain
pre-set parameters, and in accordance with the general authority to
repurchase shares granted by RWS's shareholders at the 2023 Annual
General Meeting and with the EU Market Abuse Regulation (596/2014)
(as in force in the UK and as amended by the Market Abuse
(Amendment) (EU Exit) Regulations 2019), the Commission Delegated
Regulation (EU) 2016/1052 (as in force in the UK and as amended by
the FCA's Technical Standards (Market Abuse Regulation) (EU Exit)
Instrument 2019) and the AIM Rules.
The maximum number of RWS Shares which may be purchased by RWS
under the Repurchase Programme is 38,946,009, which is the maximum
number permitted pursuant to the authority granted by RWS's
shareholders at the 2023 Annual General Meeting.
RWS will announce any market repurchases of RWS Shares no later
than 7.30 a.m. on the business day following the date on which the
repurchase occurred.
For further information, please contact:
RWS Holdings plc
Andrew Brode, Chairman
Ian El-Mokadem, Chief Executive Officer
Candida Davies, Chief Financial Officer 01753 480200
MHP (Financial PR Advisor) rws@mhpc.com
Katie Hunt / Eleni Menikou / Catherine Chapman 020 3128 8100
07884 494112
Numis (Nomad & Joint Broker)
Stuart Skinner / Kevin Cruickshank / Will Baunton 020 7260 1000
Berenberg (Joint Broker)
Ben Wright / Toby Flaux / Alix Mecklenburg-Solodkoff 020 3207 7800
About RWS:
RWS Holdings plc is a unique, world-leading provider of
technology-enabled language, content and intellectual property
services. Through content transformation and multilingual data
analysis, our combination of AI-enabled technology and human
expertise helps our clients to grow by ensuring they are understood
anywhere, in any language.
Our purpose is unlocking global understanding. By combining
cultural understanding, client understanding and technical
understanding, our services and technology assist our clients to
acquire and retain customers, deliver engaging user experiences,
maintain compliance and gain actionable insights into their data
and content.
Over the past 20 years we've been evolving our own AI solutions
as well as helping clients to explore, build and use multilingual
AI applications. With 40+ AI-related patents and more than 100
peer-reviewed papers, we have the experience and expertise to
support clients on their AI journey.
We work with over 80% of the world's top 100 brands, more than
three-quarters of Fortune's 20 'Most Admired Companies' and almost
all of the top pharmaceutical companies, investment banks, law
firms and patent filers. Our client base spans Europe, Asia Pacific
and North and South America. Our 65+ global locations across five
continents service clients in the automotive, chemical, financial,
legal, medical, pharmaceutical, technology and telecommunications
sectors.
Founded in 1958, RWS is headquartered in the UK and publicly
listed on AIM, the London Stock Exchange regulated market
(RWS.L).
For further information, please visit: www.rws.com.
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