30 Jun 2020 18:08
30 June 2020
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 publication of the Company's unaudited interim results for the 26 weeks ended 30 June 2020, currently due to be released on 31 July 2020, when the Company will reconfirm its intentions.
Under the Share Purchase Plan, the Company will instruct its broker, Canaccord Genuity Ltd, 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 £500,000 (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 692 658 |
Canaccord Genuity Ltd (Nomad and Sole Broker) Bobbie Hilliam Georgina McCooke |
020 7523 8150 |
Note to Editors:
Impellam is the second largest1 staffing company in the UK and sixth largest2 Managed Services provider worldwide. Our vision is to be the world's most trusted staffing company - trusted by our people, our customers and our investors in equal measure.
We provide Managed Services and Specialist Staffing solutions across the UK, Europe, US, the Middle East and Australasia. We have over 3,200 Impellam people throughout our network of 17 market-leading brands across 165 worldwide locations.
Ultimately, Impellam Group's mission is to provide fulfilment and a sense of purpose to our people and to help customers build better businesses in a changing world.
For more information about Impellam Group please visit: www.impellam.com
1 By revenue (2017 published numbers)
2 By SUM (confirmed by Staffing Industry Analysts. Spend Under Management (SUM) is the total amount of client expenditure which our Managed Services brands manage on behalf of their clients. This equates to revenue earned where Impellam acts as principal plus gross billings to customers where Impellam acts as agent (2017 published numbers). Management use this measure as it reflects the total value of the client spend to the Group and not just the revenue generated