Last checked at 26 Jun 2023 07:00
26 June 2023
FRANCHISE BRANDS PLC
("Franchise Brands", the "Group" or "the Company")
Share purchase programme
Franchise Brands plc (AIM: FRAN), an international multi-brand franchise business, announces that it will continue its discretionary programme to buy ordinary shares of 0.5p each in the Company ("Ordinary Shares") for the next six-month period from 1 July 2023 to 31 December 2023, up to an aggregate value of £1,500,000 (the "Programme").
The Trustee of the Franchise Brands PLC Employee Benefit Trust (the "EBT") will purchase Ordinary Shares in accordance with the Programme. The Programme seeks to mitigate the dilutive impact of share option awards and to improve overall shareholder return.
During the period 23 December 2023 to 23 June 2023 ("the Period"), the EBT has purchased 18,420 Ordinary Shares at an average price of £2.00 pence per share. 10,500 Ordinary Shares held by the EBT have been used to satisfy the exercise of options over Ordinary Shares during the Period. Accordingly, the EBT currently holds 1,782,835 Ordinary Shares (23 December 2022: 1,774,915 Ordinary Shares) which represents 0.92 per cent. (23 December 2022: 1.36 per cent.) of the Company's current issued share capital. The net cash cost to the Company during the period was £37,045.
The Trustees of the EBT have entered into arrangements with the Company's joint broker, Dowgate Capital Limited ("Dowgate"), to carry out on-market purchases of Ordinary Shares under the Programme, including on a discretionary basis independent of the Company during any prohibited periods of the Company, as determined by the UK Market Abuse Regulation, which may fall during the period of the Programme.
Enquiries:
Franchise Brands plc | + 44 (0) 1625 507 910 |
Stephen Hemsley, Executive Chairman | |
Andrew Mallows, Interim Chief Financial Officer | |
Julia Choudhury, Corporate Development Director | |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0) 20 3328 5656 |
Jeremy Porter / George Payne (Corporate Finance) Amrit Nahal (Sales & Corporate Broking) | |
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Dowgate Capital Limited (Joint Broker) | +44 (0) 20 3903 7715 |
James Serjeant / Russell Cook / Nicholas Chambers
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Stifel Nicolaus Europe Limited (Joint Broker) | +44 (0) 20 7710 7699 |
Matthew Blawat / Francis North
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MHP Group (Financial PR) | +44 (0) 20 3128 8100 |
Katie Hunt / Catherine Chapman | +44 (0) 7884 494112 |
franchisebrands@mhpgroup.com |
About Franchise Brands plc
Franchise Brands is an international, multi-brand franchisor focused on building market-leading businesses primarily via a franchise model. The Group has a combined network of 650 franchisees across seven franchise brands in ten countries covering the UK, North America and Europe.
Franchise Brands' focus is on B2B van-based reactive and planned services. The Company owns several market-leading brands with a long trading history, including Metro Rod, Metro Plumb, Filta and Pirtek in Europe, all of which benefit from the Group's central support services, in particular technology, marketing, management experience and other group resources. At the centre of Franchise Brands' business building strategy is helping its franchisees grow their businesses: "if they grow, we grow".
Franchise Brands employs some 690 people across the Group.
For further information, visit www.franchisebrands.co.uk