Michelmersh Brick Holdings PLC Renewal of Share Buyback Programme (4242E)
30 Junho 2023 - 3:00AM
UK Regulatory
TIDMMBH
RNS Number : 4242E
Michelmersh Brick Holdings PLC
30 June 2023
30 June 2023
Michelmersh Brick Holdings Plc
("MBH", the "Company", or the "Group")
Renewal of Share Buyback Programme
Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick
manufacturer, today announces that it intends to re-commence a
share buyback programme in respect of its ordinary shares of 20
pence each ("Ordinary Shares") up to a maximum consideration of
GBP2.0 million from the date of this announcement (the "Share
Buyback Programme").
The purpose of the Share Buyback Programme is to reduce the
share capital of the Group in order to return value to
shareholders.
The Share Buyback Programme was first announced on 24 November
2023, but the programme has now lapsed.
Michelmersh today announces that it has re-entered into an
irrevocable non-discretionary instruction with Canaccord Genuity
Limited ("Canaccord") in relation to the purchase by Canaccord,
acting as principal during the period commencing on 30 June 2023
and ending no later than 30 September 2023, of Ordinary Shares for
an aggregate consideration (excluding expenses) of no greater than
GBP2.0 million and the simultaneous on-sale of such Ordinary Shares
by Canaccord to Michelmersh, where they will be held in treasury.
Canaccord will make its trading decisions concerning the timing of
the purchases of Ordinary Shares independently of, and uninfluenced
by, the Group.
The Share Buyback Programme will be conducted within certain
pre-set parameters, and in accordance with the general authorities
to repurchase shares granted by shareholders at the Group's Annual
General Meetings, Chapter 12 of the UK Listing Rules and the
provisions of the Market Abuse Regulation 596/2014/EU as amended by
the Market Abuse (Amendment) (EU Exit) Regulations 2019 ("UK MAR")
and the Commission Delegated Regulation 2016/1052/EU as amended by
Technical Standards (Market Abuse Regulation) (EU Exit) Instrument
2019 which both form part of the law of the United Kingdom by
virtue of the European Union (Withdrawal) Act 2018.
Michelmersh will announce any market repurchase of Ordinary
Shares no later than 7.30 a.m. on the business day following the
calendar day on which the repurchase occurred.
Michelmersh Brick Holdings Plc Tel: +44 (0)1825
Frank Hanna, Joint Chief Executive 430 412
Officer
Ryan Mahoney, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Tel: +44 (0)20
Joint Broker) 7523 8000
Max Hartley
Bobbie Hilliam
Harry Pardoe
Berenberg (Joint Broker) Tel: +44 (0) 203
Richard Bootle 207 7800
Detlir Elizi
Tom Graham
Yellow Jersey PR Tel: +44 (0)7747
Charles Goodwin 788 221
Annabelle Wills Tel: +44 (0)7775
194 357
The information contained within this announcement is deemed to
constitute inside information as stipulated under the UK Market
Abuse Regulations. Upon the publication of this announcement, this
inside information is now considered to be in the public
domain.
About Michelmersh Brick Holdings PLC:
Michelmersh Brick Holdings PLC is a business with seven market
leading brands: Blockleys, Carlton, FabSpeed, Freshfield Lane,
Michelmersh, Floren.be and Hathern Terra Cotta. These divisions
operate within a fully integrated business, combining the
production of premium, precision-made bricks, pavers, special
shaped bricks, bespoke Terra Cotta products and prefabricated brick
components. The Group also includes a landfill operator, New Acres
Limited, and seeks to develop future landfill and development
opportunities on ancillary land assets.
Established in 1997, the Company has grown through acquisition
and organic growth into a profitable and asset rich business,
producing over 122 million clay bricks and pavers per annum.
Michelmersh currently owns most of the UK's premium manufacturing
brick brands and is a leading specification brick and clay paving
manufacturer.
Michelmersh strives to be a well invested, long term,
sustainable, environmentally responsible business. Opportunity,
training and security for all employees, whilst meeting the needs
of stakeholders are at the forefront of everything we do. We aim to
lead the way in producing some of Britain's premium clay products
and enhancing our environment by adding value to the architectural
landscape for generations to come.
We are Michelmersh Brick Holdings PLC: we are "Britain's Brick
Specialist".
Please visit the Group's websites at: www.mbhplc.co.uk and www.bimbricks.com
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END
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