18 Dec 2017 07:00
18 December 2017
Impellam Group plc
("Impellam" or the "Company")
Share Purchase Plan
The Company announces it has entered into a trading plan (the "Share Purchase Plan") to buy back shares for cancellation. The Share Purchase Plan will commence with immediate effect and will, unless terminated at an earlier date, expire on the date of the Company's next Annual General Meeting, currently due to be held on 27th June 2018, when the Company will reconfirm its intentions.
Under the Share Purchase Plan, the Company will instruct its broker, Cenkos Securities plc, to acquire ordinary shares of 1p each in the Company ("Ordinary Shares"). Purchases of Ordinary Shares under the Share Purchase Plan will be limited to £75,000 (by market value) per calendar month and the maximum price paid for such Ordinary Shares shall be an amount equal to the higher of (i) 5% above the average of the middle market quotations for the Ordinary Shares as derived from the London Stock Exchange's Daily Official List for the five business days prior to making any purchase; and (ii) the higher of the price of the last independent trade of and the highest current independent bid for an Ordinary Share on the London Stock Exchange's AIM market.
Notwithstanding the average daily volume restrictions set out in Article 3(3) (b) of the Commission Delegated Regulation (EU) 2016/1052, the Company may make purchases in excess of these volume restrictions, subject to prevailing market conditions and liquidity.
Enquiries:
Impellam Group plc
Julia Robertson, Chief Executive Officer 01582 692658
Alison Wilford, Chief Financial Officer
Cenkos Securities plc (Nomad and Corporate broker)
Nicholas Wells / Mark Connelly 020 7397 8900
Note to Editors:
Impellam Group plc, traded on the AIM (Symbol: IPEL) is a leading provider of Managed Services and Specialist Staffing expertise and is primarily based in the UK and North America, with smaller operations in Asia Pacific, Ireland and mainland Europe. Impellam Group plc provides fulfilling jobs at all levels, including doctors, lawyers, accountants, nurses, teachers, scientists, receptionists, drivers, chefs, administrators, engineers, technology specialists, cleaners, security guards, and manufacturing and warehouse operatives. Impellam Group plc is the 2nd largest staffing business in the UK and 6th largest MSP provider worldwide (as measured by Spend Under Management), employing over 3,400 people across 182 worldwide locations.