XLM Xlmedia Plc

TIDMXLM

RNS Number : 7937K

XLMedia PLC

18 December 2018

 
For immediate release  18 December 2018 
 

XLMedia PLC

("XLMedia" or the "Group" or the "Company")

Share Buyback

XLMedia (AIM: XLM), a leading provider of digital performance marketing, is pleased to announce a share buyback programme. XLMedia's Board has approved a programme (the "Programme") to buy back up to $10 million of the Company's ordinary shares of USD 0.000001 (the "Shares").

Share buyback

Purchases of Shares will take place in open market transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. Share purchases will fall within the maximum of 22,035,240 Shares that the Company was authorised to purchase by shareholders at the Company's most recent annual general meeting held on 23 May 2018, and all purchases of Shares will be effected within the parameters as to price and daily volume specified in that authority.

The Company has appointed Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg") to manage the Programme, which comprises a, non-discretionary programme to repurchase Shares on its behalf. The Programme will run from the date of this announcement to the conclusion of the 2019 AGM of the Company. Purchases may continue during any closed period to which the Company is subject during this period.

The purpose of the Programme is to reduce the share capital of the Company and return funds to shareholders who sell their Shares; repurchased Shares will be held in treasury. The Programme will be funded from the Company's existing cash balances which were approximately US$42.0 million as at 30 June 2018 and will not affect the Company's stated dividend policy of paying out at least 50 per cent of retained earnings.

The Programme will also be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU or applicable safe harbour. Details of all purchases made pursuant to the Programme will be announced via RNS and published on the Company's website as required by the Market Abuse Regulation.

Total Voting Rights

The Company's issued share capital consists of 220,352,402 Ordinary Shares with a nominal value of US$0.000001 each ('Ordinary Shares'). The Company does not currently hold any Ordinary Shares in treasury. The above figure of 220,352,402 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Chris Bell, Non-executive Chairman of XLMedia, commented:

"As part of our broader strategy to deliver shareholder value, coupled with recent weakness in our share price, the board has concluded that it is an opportune moment to undertake a share buy-back initiative, alongside maintaining our current dividend policy."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, contact:

 
 XLMedia plc                           via Vigo Communications 
  Chris Bell, Non-executive Chairman 
  Ory Weihs, Chief Executive Officer 
  www.xlmedia.com 
 Vigo Communications                   Tel: 020 7390 0233 
  Jeremy Garcia / Fiona Henson / 
  Simon Woods 
  www.vigocomms.com 
 Cenkos Securities plc (Nomad and      Tel: 020 7397 8900 
  Joint Broker) 
  Mark Connelly / Callum Davidson 
  www.cenkos.com 
 Berenberg (Joint Broker)              Tel: 020 3207 7800 
  Chris Bowman / Mark Whitmore 
  www.berenberg.com 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

POSLIFVRFVLTLIT

(END) Dow Jones Newswires

December 18, 2018 02:00 ET (07:00 GMT)

Xlmedia (LSE:XLM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Xlmedia (LSE:XLM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024