24 August 2023
Anglo-Eastern Plantations Plc
("AEP" or the "Company")
Share Buyback
Anglo-Eastern Plantations announced on 21 April 2023 that, it would consider launching a modest buyback programme in a timely manner and at an efficient price. AEP today announces the launch of a share buyback programme (the 'Programme') following authority granted at the AGM held on 16 June 2023.
The Company intends to repurchase up to 396,360 ordinary shares of 25 pence each in the capital of the Company ("Ordinary Shares") representing approximately 1% of the Ordinary Shares in issue.
AEP has entered into an irrevocable commitment with Panmure Gordon (UK) Limited ("Panmure Gordon") to manage the Programme to repurchase Ordinary Shares on its behalf from 25 August 2023, up to a maximum aggregate consideration of £3.2 million (the "Share Buyback Programme"). It is the intention that the Share Buyback Programme will be completed by the date of the Company's next AGM. Panmure Gordon will manage the Share Buyback through a non-discretionary programme, repurchasing the Company's Ordinary Shares on its behalf and within certain defined parameters. Panmure Gordon will make trading decisions in relation to the buyback of Ordinary Shares independently of the Company within the programme terms.
Share purchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The Programme is in accordance with the Company's general authority to purchase a maximum of 3,963,637 Ordinary Shares, granted by its shareholders at the Annual General Meeting held on 16 June 2023. The Programme will be effected within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (as in force in the UK from time to time, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019). The Company confirms that it currently has no unpublished price sensitive information. It is intended that repurchased shares will be held in treasury.
For further enquiry, contact:
Anglo-Eastern Plantations Plc
Dato' John Lim Ewe Chuan +44 (0)20 7216 4621
Panmure Gordon (UK) Limited
Dominic Morley / Amrit Mahbubani +44 (0)20 7886 2500
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