XLMedia PLC Share Buyback Programme (0058B)
04 Junho 2019 - 3:00AM
UK Regulatory
TIDMXLM
RNS Number : 0058B
XLMedia PLC
04 June 2019
For immediate release 4 June 2019
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
Share Buyback Programme
XLMedia (AIM: XLM), a leading provider of digital performance
marketing, is pleased to announce a proposed share buyback
programme following the approval of further authorities at the
Company's Annual General Meeting on 29 May 2019. 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
The Programme follows the previous share buyback programme
announced on 18 December 2018 which has now has now completed.
Pursuant to the 2018 programme the Company purchased 11,728,150
Shares at a weighted average price of 61.90 pence.
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
not exceed the 20,990,350 Shares that the Company was authorised to
purchase by shareholders at the Company's most recent annual
general meeting held on 29 May 2019, 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 an irrevocable, non-discretionary programme to repurchase
Shares on its behalf. The Company and its directors have no power
to invoke any changes to the Programme and purchases under the
Programme will be conducted at the sole discretion of Berenberg.
The Programme will run from the date of this announcement until the
earlier of 29 November 2020 and the conclusion of the 2020 annual
general meeting 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$44.6 million as at 31 December 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
As at the date of this announcement, the Company's issued share
capital consists of 208,624,252 Ordinary Shares with a nominal
value of US$0.000001 each ('Ordinary Shares'). This figure of
208,624,252 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.
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)
Giles Balleny / Callum Davidson
www.cenkos.com
Berenberg (Joint Broker) Tel: 020 3207 7800
Chris Bowman / Mark Whitmore /
Simon Cardron
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
MSCLFFSIRDIVIIA
(END) Dow Jones Newswires
June 04, 2019 02:00 ET (06:00 GMT)
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