GATC Gattaca Plc

TIDMGATC

RNS Number : 1398T

Gattaca PLC

13 November 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

13 November 2023

Gattaca plc

("Gattaca", the "Company" or "the Group")

Continuation of Share Buy-back

On 21 August 2023 Gattaca plc ("Gattaca", the "Company" or the "Group"), the specialist staffing solutions business, announced its intention to return up to GBP0.5 million to shareholders via a series of share repurchases (the "Share Buy-back"). Over the weeks following this announcement, Gattaca returned approximately GBP390k to shareholders prior to going into a close period on 23 September 2023 pending release of the Group's FY23 results, at which point the Share Buy-back was halted.

The Company today confirms the relaunch of the Share Buy-back, to repurchase ordinary shares in the capital of the Company ("Ordinary Shares") up to an aggregate value of approximately GBP109k, being the remaining balance of the GBP0.5 million intended to be returned to shareholders[, as announced on 21 August 2023.]

The Share Buy-back will be operated in accordance with the terms of the Company's general authority to repurchase Ordinary Shares granted by shareholders at its annual general meeting (the "AGM"), held on 6 December 2022.

In accordance with the authority granted at the AGM; a) the aggregate number of Ordinary Shares to be repurchased will not exceed 2,448,101 (being the remaining balance of the shareholder authority when taking into account the various share repurchases by the Company since the AGM); b) the minimum price which may be paid for each Ordinary Share will be GBP0.01; and c) the maximum price (excluding expenses) which may be paid for each Ordinary Share will be 105% of the average middle market quotations for an Ordinary Share as derived from the AIM appendix to the Daily Official List of the London Stock Exchange plc for the five business days immediately preceding the day on which the Ordinary Share is contracted to be purchased.

The Company intends to limit (but retains discretion over) the number of Ordinary Shares repurchased daily, such that the aggregate price paid (being the total number of Ordinary Shares repurchased multiplied by the average price paid for each Ordinary Share, including expenses) on any given trading day is expected to not exceed GBP50,000.

Shareholders should be aware that a purchase of Ordinary Shares by the Company on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares and could exceed 25 per cent. of the average daily trading volume of the preceding 20 business days. Should that be the case, the Company could exceed the pricing and/or volume restrictions as established by the Commission Delegated Regulation 2016/1052/EU (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) (the "Regulation") and therefore the Share Buy-back may not fall within the safe harbour provisions of the Regulation.

As part of the Share Buy-back, Liberum Capital Limited, the Company's broker, has been appointed to purchase the Ordinary Shares as principal. Ordinary Shares purchased pursuant to the Share Buy-back will be cancelled.

For further information please contact:

 
Gattaca plc                               +44 (0) 1489 898989 
Matthew Wragg, Chief Executive Officer 
   Oliver Whittaker, Chief Financial 
                Officer 
Liberum Capital Limited (Nomad and 
 Broker)                                 +44 (0) 20 3100 2000 
Lauren Kettle 
 Richard Lindley 
 
IFC Advisory                             +44 (0) 203 934 6630 
Tim Metcalfe 
 Graham Herring 
 Florence Chandler 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

POSFFDFMSEDSEFF

(END) Dow Jones Newswires

November 13, 2023 02:00 ET (07:00 GMT)

Gattaca (LSE:GATC)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025

Gattaca (LSE:GATC)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025