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Pin to quick picksSystem1 Group Regulatory News (SYS1)

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Share Buyback

31 Mar 2016 07:20

RNS Number : 6564T
BrainJuicer Group PLC
31 March 2016
 

 

 

 

Press Release

31 March 2016

 

BrainJuicer Group PLC (AIM: BJU)

("BrainJuicer" or "the Company")

 

Share Buyback

 

BrainJuicer, the innovative international market research agency, is pleased to announce its intention to commence, with immediate effect, a share buy-back (the "Buyback") using existing cash resources to make market purchases of up to 1 million of its ordinary shares pursuant to the general authority given to it at the Company's 2015 Annual General Meeting.

 

Following the full year results announcement on Monday 21 March 2016, and the recent weakness in the share price, and in line with the stated commitment to return excess capital to shareholders, the Board has decided to implement the Buyback. Accordingly, any shareholders wishing to participate in the Buyback should contact the Company's broker Canaccord Genuity Limited. The Buyback shall be effected in such manner and on such terms as the directors of the Company may from time to time determine.

 

The maximum price to be paid shall not be more than the higher of: (i) 5% above the average middle market closing price of the Company's shares for the 5 business days immediately preceding the day on which the purchase is made; and (ii) that stipulated by article 5(1) of the Buyback and Stabilisation Regulation.

 

The Buyback will be undertaken until the earlier of all 1 million ordinary shares being repurchased and the Company's 2016 Annual General Meeting on 6 May 2016. Any Shares repurchased will be held in Treasury.

 

Due to the general illiquidity in trading of BrainJuicer's ordinary shares, in order for the Company to buy back ordinary shares, it will be purchasing materially in excess of the limit of 25 per cent. and/or 50 per cent. of average daily volume in the 20 trading days preceding the date of the purchase as is set out in the Code of Market Conduct and, as such, the Company would be deviating from the safe harbour set out in MAR 1 Annex 1 to the Code of Market Conduct. Should a repurchase exceed either the 25 per cent. or 50 per cent. levels, such repurchase is likely to represent a significant proportion of the daily trading volume.

 

John Kearon, Chief Executive Officer of the Company, intends to participate in the Buyback. The Buyback will be conducted conditional upon John's interest in the ordinary shares of the Company, and those deemed to be acting in concert with him, not increasing beyond the percentage of voting rights currently held.

 

The Company will make further announcements in due course following the completion of any purchase of ordinary shares pursuant to the Buyback.

 

The Company confirms it currently has no unpublished price sensitive information.

 

 

For further information, please contact:

BrainJuicer Group PLC

Tel: +44 (0)20 7043 1000

 

John Kearon, Chief Executive Officer

 

James Geddes, Chief Financial Officer

 

Canaccord Genuity Limited (Nomad)

Tel: +44 (0)20 7523 8000

Simon Bridges / Henry Fitzgerald-O'Connor / Emma Gabriel

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
POSJBMFTMBBJMBF
Date   Source Headline
11th Sep 20139:51 amRNSHolding(s) in Company
7th Aug 20133:30 pmRNSHolding(s) in Company
12th Jul 201311:23 amRNSTransaction in Own Shares
11th Jul 20137:00 amRNSTrading Update
22nd May 201311:05 amRNSResult of AGM
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16th Apr 20131:53 pmRNSNotice of AGM
15th Apr 20133:58 pmRNSAnnual Financial Report
21st Mar 20137:01 amRNSDividend Declaration
21st Mar 20137:00 amRNSResults for the 12 Months ended 31 Dec 2012
18th Jan 20133:59 pmRNSTransaction in Own Shares
17th Jan 201310:43 amRNSTrading Update
24th Dec 201211:52 amRNSTransaction in Own Shares
20th Nov 20127:00 amRNSTrading Update
26th Oct 201211:15 amRNSTransaction in Own Shares
18th Oct 20125:39 pmRNSHolding(s) in Company
15th Oct 20125:40 pmRNSTransaction in Own Shares
2nd Oct 20127:00 amRNSDirectorate Change
27th Sep 20128:02 amRNSDirector Dealing
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20th Sep 20127:00 amRNSHalf Yearly Report
27th Jul 20128:58 amRNSUpdate of adviser details
19th Jul 20121:05 pmRNSTransaction in Own Shares
19th Jul 20127:00 amRNSTrading Statement
13th Jul 20127:00 amRNSAwards under Value Creation Plan
12th Jul 20127:38 amRNSDirector/PDMR Shareholding
6th Jul 20125:49 pmRNSTransaction in Own Shares
27th Jun 20126:06 pmRNSTransaction in Own Shares
29th May 20126:15 pmRNSTransaction in Own Shares
29th May 20124:54 pmRNSDirector dealing & appointment
23rd May 20124:23 pmRNSResult of AGM
23rd Apr 20127:00 amRNSDirector Dealing
17th Apr 20126:32 pmRNSTransaction in Own Shares
12th Apr 20125:04 pmRNSTransaction in own Shares
11th Apr 20121:46 pmRNSAnnual Report and Accounts
22nd Mar 20127:00 amRNSResults for 12 Months ended 31 Dec 2011
20th Jan 20125:39 pmRNSTransaction in Own Shares
19th Jan 20127:00 amRNSTrading Update
16th Jan 20127:47 amRNSTransaction in Own Shares
10th Jan 20122:31 pmRNSTransaction in Own Shares
5th Jan 20121:24 pmRNSDirectorate Change
2nd Dec 20117:00 amRNSTransaction in Own Shares
22nd Nov 20119:35 amRNSTransaction in Own Shares
3rd Nov 20113:23 pmRNSTransaction in Own Shares
2nd Nov 20115:39 pmRNSTransaction in Own Shares
1st Nov 20115:47 pmRNSTransaction in Own Shares
31st Oct 20114:14 pmRNSTransaction in Own Shares
29th Sep 20115:09 pmRNSDirector/PDMR Shareholding
12th Sep 20118:29 amRNSBlocklisting Interim Review
30th Aug 20119:52 amRNSTotal Voting Rights

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