Next 15 Group Regulatory News (NFG)

26 Oct 2023 07:00

26 October 2023

Next 15 Group plc

(“Next 15” or the “Company”)

On 26 September 2023, in its Interim Results for the 6 months ended 31 July 2023, Next 15 announced its intention to launch a share buyback programme of up to £30 million (the "Share Buyback Programme").

Next 15 announces that, pursuant to the Share Buyback Programme, it has entered into non-discretionary agreements with Numis Securities Limited (“Deutsche Numis”) to purchase up to an initial £10 million of the Company's Ordinary Shares of 2.5 pence (the "Shares") each and to make trading decisions under the Share Buyback Programme independently of the Company in accordance with certain pre-set parameters. The Share Buyback Programme will commence today. From time to time, the Board will assess the progress of this Share Buyback Programme in light of the Company's capital allocation needs.

The purpose of the Share Buyback Programme is to reduce the share capital of the Company. As such, the Company will cancel any Shares purchased.

Any purchases of Shares will be carried out within certain pre-set parameters and in accordance with the Company's existing general authority to repurchase Shares, the London Stock Exchange's AIM Rules for Companies, Article 5(1) of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018), and the Commission Delegated Regulation (EU) No 2016/1052 (as it forms part of Retained EU Law as defined in the European Union (Withdrawal) Act 2018). During any closed periods the Company and its directors have no power to invoke any changes to the programme and it will be executed at the sole discretion of Deutsche Numis.

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