The Pebble Gro. Regulatory News (PEBB)

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8 August 2024

THE PEBBLE GROUP PLC

("The Pebble Group" or the "Group")

AIM: PEBB, OTCQX: PEBBF

Update on Share Buyback Programme

The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, announces that following the appointment of Panmure Liberum Limited ("Panmure Liberum") as the Group's retained corporate broker, the Company has terminated the existing share buyback programme ("Original Share Buyback Programme") and entered into a new agreement with Panmure Liberum to execute a new share buyback programme in the Group's ordinary shares of 1 pence each ("Ordinary Shares"), up to an initial maximum aggregate consideration of £4.36m (the "Replacement Share Buyback Programme").

To date, under the Original Share Buy Back Programme the Company has purchased 1,070,260 Ordinary Shares for an aggregate consideration of £0.64 million. The Replacement Share Buyback Programme will enable the Company to fulfil its original commitment to purchase up to £5.0m as announced at the Group's Audited Full Year Results 2023, published on 19 March 2024.

The purpose of the Replacement Share Buyback Programme is to reduce the share capital of the Group.

In order to implement the Replacement Share Buyback Programme, the agreement with Panmure Liberum is on the following basis:

· Panmure Liberum will manage the purchases on a discretionary basis, purchasing Ordinary Shares within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Group.

· The Replacement Share Buyback Programme will be executed in accordance with the authorities to repurchase Ordinary Shares granted by the Group's shareholders at the Annual General Meeting ("AGM") held on 30 April 2024.

· The Replacement Share Buyback Programme will acquire up to a maximum 15,674,740 Ordinary Shares

· The Share Buyback Programme will also be conducted in accordance with the safe harbour parameters of the EU Market Abuse Regulation (596/2014) (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and the AIM Rules.

· Any Ordinary Shares purchased will be cancelled, and therefore will reduce the issued share capital of the Group accordingly.

· The Group has authorised the Replacement Share Buyback Programme to commence from today and will continue whilst it retains the authority from shareholders to repurchase Ordinary Shares until the earlier of: (i) the maximum aggregate consideration payable by the Group has been reached or (ii) at close of business on 30 June 2025 or, if earlier, at the conclusion of the Company's AGM to be held in 2025. 

Any market purchase of Ordinary Shares pursuant to the Replacement Share Buyback Programme will be announced no later than 7:30am (UK time) on the business day following the day on which the purchased occurred.

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