14 Jul 2009 16:12
AMBRIAN CAPITAL PLC
PROPOSED SHARE BUYBACK ANNOUNCEMENT
Ambrian Capital plc announces that in accordance with the authorities granted at the Company's Annual General Meeting held on 2 June 2009, the Board intends to buy-back up to 16,046,872 ordinary 10p shares in the Company when the opportunity arises. The authority conferred by this resolution shall expire 15 months from 30th April 2009 or, if earlier, at the conclusion of the Company's next annual general meeting. Shares acquired pursuant to the Buy-Back Programme will continue to be purchased within certain pre-set parameters, including a maximum purchase price of no more than 105 per cent of the average middle market closing price of the shares for the 5 dealing days preceding the date of purchase.
In buying back the Company's shares, the Board is returning capital to those shareholders who wish to sell their shares.
Under the share buy-back programme, any shares that Ambrian Capital plc buys back between 15th July 2009 and the announcement of Ambrian Capital's half-year results on 15th September 2009 will be handled by FPK, at its sole discretion, and the company and its directors will have no power to invoke any changes to the programme.
For further information please contact:
| Ambrian Capital plc | |
| Tom Gaffney, Chief Executive | 020 7634 4700 |
| Fox-Pitt, Kelton | |
| Simon Law / Marc Milmo | 020 7663 6023 |
| M:Communications | |
| Charlotte Kirkham / Ben Simons | 020 7153 1531 / 1540 |
Notes to Editors:
Ambrian Capital plc
Ambrian Capital plc (AIM: AMBR) is the holding company of Ambrian Partners Limited, Ambrian Commodities Limited and Ambrian Metals Limited.
Ambrian Partners Limited is a specialist investment bank focussed on the metals & mining, oil & gas, and cleantech sectors. It provides corporate finance advice, equity research, sales and trading and market making services. Ambrian Partners was ranked first in both the Extel UK Small Cap survey (Metals & Mining category) and the Hemscott 2nd Quarter 2009 Advisers Rankings Guide (AIM Basic Materials Sector). Ambrian Partners is a member of the London Stock Exchange and
is authorised and regulated by the Financial Services Authority.
Ambrian Commodities Limited is a trader and broker specialising in London Metals Exchange cleared base metals futures and options. Its customers include metals producers, consumers, merchants, traders and financial investors. Ambrian Commodities is an Associate Broker Member of the London Metal Exchange and is authorised and regulated by the Financial Services Authority.
Ambrian Metals Limited is an independent physical metals trader with particular strengths in copper, aluminium and lead. Through Ambrian Metals' offices in London and Shanghai and agents in Calcutta, New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous metals from producers for distribution to an international client base of metals consumers and merchants.
Further information on Ambrian Capital is available on the Company's website: www.ambrian.com