22 Mar 2021 07:00
Arix Bioscience PLC (ARIX) Share buyback programme of up to £25 million 22-March-2021 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Arix Bioscience plc
Share buyback programme of up to £25 million
LONDON, 22 March 2021: Arix Bioscience plc ("Arix" or "the Company"), a global venture capital company focused on investing in and building breakthrough biotech companies, today announces it is commencing a £25 million share buyback programme, previously announced on 15 March 2021.
Arix is commencing a programme to purchase in open market transactions its ordinary shares of 0.001 pence each (the "Ordinary Shares") with a value of up to £25 million during the period starting on 22 March 2021 and ending no later than 22 December 2021 (the "Programme"). The aggregate number of shares acquired by the Company shall not exceed the maximum of 13,555,185 shares authorised by shareholders at the most recent Annual General Meeting which was held on 4 June 2020.
It is intended that any shares repurchased under the Programme will be transferred into treasury.
The Programme will be carried out through an irrevocable non-discretionary agreement with Jefferies International Limited ("Jefferies") to enable the purchase of Ordinary Shares on the Company's behalf within certain parameters. The Company and its directors have no power to invoke any changes to the above Programme and Jefferies will make its trading decisions in relation to the Ordinary Shares independently of, and uninfluenced by, the Company.
Any purchase of Ordinary Shares under the Programme will be carried out on the London Stock Exchange and any other UK recognised investment exchange which may be agreed, in accordance with pre-set parameters and in accordance with (and subject to limits prescribed by) the Company's general authority to repurchase Ordinary Shares granted by its shareholders at its most recent Annual General Meeting, Chapter 12 of the Financial Conduct Authority's Listing Rules, Article 5(1) of Regulation (EU) No. 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018) and Commission Delegated Regulation (EU) 2016/1052 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
The Company will announce any market repurchases of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred.
[ENDS] For more information on Arix, please contact:
Arix Bioscience plc Charlotte Parry, Head of Investor Relations +44 (0)20 7290 1072 charlotte@arixbioscience.com
Optimum Strategic Communications Mary Clark, Supriya Mathur, Shabnam Bashir +44 (0)20 3922 1906 optimum.arix@optimumcomms.com
About Arix Bioscience plc Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting-edge advances in life sciences. We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors. www.arixbioscience.com
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| ISIN: | GB00BD045071 |
| Category Code: | POS |
| TIDM: | ARIX |
| LEI Code: | 213800OVT3AHQCXNIX43 |
| OAM Categories: | 2.4. Acquisition or disposal of the issuer's own shares |
| Sequence No.: | 95954 |
| EQS News ID: | 1177134 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.