19 Dec 2012 13:21
Date: 19 December 2012
On behalf of: Cupid plc ("Cupid", the "Company" or the "Group")
For immediate release
Cupid plc
Result of General Meeting
and
Share Buy-Back Programme during close period
Cupid plc announces that at the General Meeting held today at the Company's offices, 7 Castle Street, Edinburgh, EH2 3AH, the ordinary resolution regarding the proposed share buyback programme of up to 10 per cent. of the issued share capital of the Company, was duly passed.
Cupid also announces that it has today put in place an irrevocable, non-discretionary programme for the purchase of its ordinary shares during the close period which precedes the final results announcement, expected to be made on 5 March 2013. The shares to be purchased on behalf of the Company will be cancelled.
The aim of the programme is to reduce the issued share capital of the Company to help enhance returns for shareholders.
The repurchases, to be made under the Company's share buy-back programme, will be managed during the close period by Peel Hunt LLP and Numis Securities Ltd which will make their trading decisions in relation to the Company's securities independently of, and uninfluenced by, the Company.
Any purchases pursuant to these arrangements will be carried out from 7 January 2013 up to and including 4 March 2013 within certain pre-set parameters and in accordance with the general authority to repurchase shares which requires that the maximum price paid be limited to no more than 105 per cent of the average middle market closing price of Cupid shares for the 5 dealing days preceding the date of purchase and that stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation.
Cupid confirms that it currently has no unpublished price sensitive information.
For further information please contact:
Cupid plc Tel: +44 (0)131 526 3600
Mark Doughty, CFO
Bill Dobbie, CEO
Peel Hunt LLP (Nominated Adviser Tel: +44 (0)207 418 8900
and Joint Broker)
Richard Kauffer
Daniel Harris
Numis Securities Ltd (Joint Broker) Tel +44 (0)207 260 1000
Alex Ham
Nick Westlake
Redleaf Polhill Tel: +44 (0)207 566 6720
Henry Columbine cupid@redleafpolhill.com
David Ison
Notes to Editors
-- Cupid plc listed on AIM in June 2010 and is a leading provider of online dating services
-- Cupid has built significant and growing revenues in 15 countries.
-- Cupid offers a wide variety of online dating services allowing members to interact with each other and access the content available on the Group's websites. These websites are intended to appeal to dating users of diverse ages, cultures and social interest groups. The Group's most heavily visited websites include www.cupid.com, www.flirt.com, www.benaughty.com and www.girlsdateforfree.com. The Group also promotes the niche brands www.datingforparents.com, www.indiandating.com, www.loveagain.com and www.uniformdating.com.
-- Cupid plc products are available across the web and also via mobile application stores.
-- Further information on the Company can be found at www.cupidplc.com.