Assetco Regulatory News (ASTO)

29 September 2022

LEI: 213800LFMHKVNT27GV45

AssetCo plc ("AssetCo" or the "Company")

Share Repurchase Programme and Result of General Meeting

AssetCo, the agile asset and wealth management company, is pleased to announce that, at its General Meeting held on 28 September 2022, the resolution put to shareholders seeking their authority (the "General Authority") to repurchase up to a maximum of 14,929,297 ordinary shares of 1 pence each ("Ordinary Shares") was duly passed by the requisite majority, following which the Board of Directors has approved a share repurchase programme to return up to a maximum aggregate amount of £7.5 million to the Company's shareholders (the "Programme").

About the Programme

· The Programme will be financed through existing cash resources.

· The Company has initially appointed Panmure Gordon (UK) Limited ("Panmure Gordon") to independently manage the Programme to repurchase Ordinary Shares on its behalf and within certain defined parameters.

· The aggregate number of Ordinary Shares acquired by the Company pursuant to the Programme shall not exceed the maximum number of Ordinary Shares which the Company is authorised to purchase pursuant to the General Authority.

· In accordance with the General Authority, the maximum price paid per Ordinary Share acquired by the Company pursuant to the Programme is to be no more than 105% of the average middle market closing price of an Ordinary Share on AIM for the five business days preceding the date of purchase.

· The Programme will commence on the date of this announcement and will continue until the earlier of either the expiration of the General Authority or until the maximum pecuniary amount has been purchased under the Programme.

· The purchased Ordinary Shares will be held by the Company in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings.

· Share repurchases 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 maximum price paid per Ordinary Share will be no more than the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.

· The Company confirms that it currently has no unpublished inside information.

· The Programme will operate in accordance with and under the terms of the relevant General Authority, and within the regulatory limit on the quantity of Ordinary Shares the Company may purchase on a single day. The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the delegated regulations made pursuant to it.

· As at 28 September 2022, the Company's total issued share capital consisted of 149,292,970 Ordinary Shares, with one voting right per share. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company was 149,292,970.

Result of General Meeting

At the general meeting which took place at 3pm on 28 September 2022, the following resolution (the "Resolution"), which was proposed as a special resolution, was duly passed by the requisite majority:

Resolution

In substitution for all existing authorities the Company be and is generally and unconditionally authorised for the purposes of section 701 of the Companies Act 2006 (the "Act") to make one or more market purchases (within the meaning of section 693(4) of the Act) on the AIM market of the London Stock Exchange of its ordinary shares of £0.01 each ("Ordinary Shares") provided that:

(a) the maximum aggregate number of Ordinary Shares authorised to be purchased is 14,929,297;

(b) the minimum price which may be paid for such Ordinary Shares is £0.01 per Ordinary Share;

(c) the maximum price which may be paid for an Ordinary Share shall not be more, at the time of purchase, than the amount equal to 105 per cent. of the average of the middle market quotations for an Ordinary Share as derived from the London Stock Exchange for the five business days immediately preceding the date on which the Ordinary Share is purchased;

(d) unless previously renewed, varied or revoked, the authority conferred shall expire at the conclusion of the next Annual General Meeting of the Company in 2023 or fifteen months, after the passing of this Resolution whichever is the earlier; and

(e) the Company may make a contract or contracts to purchase Ordinary Shares under the authority conferred by this Resolution prior to the expiry of such authority which will or may be executed wholly or partly after the expiry of such authority and may make a purchase of Ordinary Shares in pursuance of any such contract or contracts, as if such authority had not expired.

For further information, please contact:

For further details, visit the website, www.assetco.com

Ticker: AIM: ASTO.L