Dewhurst Group PLC
("Dewhurst" or the "Company")
Share Buyback Programme
Dewhurst Group plc (AIM: DWHT) today announces that it is commencing a share buyback programme of up to £2.5 million (the "Share Buyback Programme") in order to return funds to shareholders.
The Share Buyback Programme will be for on market purchases of both ordinary shares of 10 pence each which carry voting rights ("Ordinary Shares") and 'A' non-voting ordinary shares of 10 pence each ("A Shares") in the Company (together, "Shares"). The Share Buyback Programme will take place within the limitations of the authority granted to the Board of Dewhurst at its Annual General Meeting, held on 14 February 2023, pursuant to which a maximum of 496,380 Ordinary Shares and 715,830 A Shares may be bought back by the Company at a price of not more than 105 per cent. of the average of the middle market quotations for such Ordinary Shares and A Shares for the ten dealing days immediately preceding the day of any purchase.
Any Ordinary Shares or A Shares purchased under the Share Buyback Programme will be held in treasury until cancelled.
The Share Buyback Programme commences today and ends no later than 31 March 2024, subject to the Board being re-granted the authority to buyback Shares at its Annual General Meeting to be held on 20 February 2024, or earlier if the maximum value of the Share Buyback Programme has been reached. The Company will re-confirm the existence and quantum of the Share Buyback Programme upon conclusion of its 2024 Annual General Meeting.
Contacts:
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Dewhurst Group Plc |
Tel: +44 (0)208 744 8200 |
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Richard Dewhurst, Chairman Jared Sinclair, Chief Financial Officer
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Singer Capital Markets (Nominated Adviser and Sole Broker) |
Tel: +44 (0)207 496 3000 |
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Rick Thompson / Alex Bond / James Fischer |
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