Diales Group Regulatory News (DIAL)

Diales Group plc

("Diales Group" or the "Company")

Further Share Buyback Programme

Diales Group plc (AIM: DIAL), the global specialist dispute avoidance and dispute resolution consultancy, as part of its disciplined approach to capital management, is pleased to announce that it intends to conduct on-market purchases under a further share buyback programme to repurchase up to £0.1 million of the Company's ordinary shares of 0.4 pence each ("Ordinary Shares") pursuant to the authority obtained at the Company's last annual general meeting (the "Buyback"). This buyback is further to the £0.25m purchase programme conducted and completed in 2024. The company will consider conducting further buybacks following the completion of the current programme, if deemed appropriate.

The Buyback will be funded from the Company's existing surplus cash resources and all Ordinary Shares purchased will be held in treasury.  The Company intends to operate the Buyback from the date of this announcement until the earlier of the 2026 Annual General Meeting or the completion of the stated repurchase amount.

The Company has appointed Singer Capital Markets Securities Limited ("Singer Capital Markets") to execute and manage the Buyback and has given an irrevocable instruction to Singer Capital Markets to make market purchases of Ordinary Shares on its behalf, independently to the Company. Singer Capital Markets will make its trading decisions in relation to the Ordinary Shares independently of the Company.

The maximum price which may be paid by the Company per Ordinary Share is the higher of:

A. 5 per cent above the average of the middle market quotations for an Ordinary Share as derived from the AIM Appendix to The London Stock Exchange Daily Official List for the five business days immediately preceding the date on which the Ordinary Share is purchased; and

B. the higher of the price of the last independent trade of an Ordinary Share and the highest current independent bid for an Ordinary Share on the trading venue where the purchase is carried out;

The Company has determined that it will not rely on the safe harbour conditions for trading set out in Article 5 of EU Market Abuse Regulation (2014/596/EU) (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("UK MAR") given the limited liquidity in the Ordinary Shares and limitations that it would impose on the number of Ordinary Shares that can be purchased and, as such, the Company may purchase on any trading day materially in excess of 25 per cent. of the average daily volume in the 20 trading days preceding the date on which the purchase is carried out.

There is no guarantee that the Buyback programme will be implemented in full or that any purchases will be made. 

As at the time of this announcement, the Company's total issued share capital consists of 53,962,868, of which 1,305,429 shares are held in treasury, therefore, the total number of Ordinary shares carrying voting rights is 52,657,439.

The above figure of 52,657,439 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

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