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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
13th Jul 20117:00 amRNSTrading Update
28th Jun 20113:19 pmRNSTransaction in Own Shares
27th Jun 201110:37 amRNSDirector Dealing
20th Jun 20116:21 pmRNSTransaction in Own Shares
17th Jun 20114:39 pmRNSTransaction in Own Shares
7th Jun 20117:00 amRNSDirector Dealing
24th May 20114:32 pmRNSResult of AGM
12th May 201111:24 amRNSHolding(s) in Company
5th May 201112:36 pmRNSHolding(s) in Company
4th May 20114:34 pmRNSDirector Dealing
7th Apr 20115:57 pmRNSTransaction in Own Shares
4th Apr 20117:39 amRNSTransaction in Own Shares
24th Mar 20117:00 amRNSFinal Results
10th Mar 20119:24 amRNSBlocklisting Interim Review
21st Jan 20114:52 pmRNSHolding(s) in Company
14th Jan 20118:02 amRNSTrading Update
11th Jan 20116:10 pmRNSTransaction in Own Shares
26th Nov 20107:00 amRNSAppointment of Director
3rd Nov 20105:24 pmRNSHolding(s) in Company
22nd Oct 20108:33 amRNSHolding(s) in Company
22nd Oct 20108:33 amRNSHolding(s) in Company
12th Oct 20106:17 pmRNSTransaction in Own Shares
1st Oct 201012:23 pmRNSSubstantial Shareholder and Director Dealing
29th Sep 20105:48 pmRNSTransaction in Own Shares
22nd Sep 20107:00 amRNSInterim Results
10th Sep 20107:00 amRNSBlocklisting Interim Review
21st Jul 20101:22 pmRNSDirector Dealings
14th Jul 20108:14 amRNSTrading Update
28th May 201012:37 pmRNSTotal Voting Rights
18th May 20104:01 pmRNSTrading Update & Name change of Nomad and Broker
4th May 20105:52 pmRNSBlocklisting Application
22nd Apr 201012:17 pmRNSResults of Buyback Program and Director Dealing
22nd Apr 20107:00 amRNSBuyback Programme
31st Mar 201010:26 amRNSTotal Voting Rights
24th Mar 20101:22 pmRNSDirector/PDMR Shareholding
10th Mar 20103:11 pmRNSBlocklisting Interim Review
10th Mar 20103:05 pmRNS2009 Final Dividend
10th Mar 20107:38 amRNS2010 Interim Dividend
9th Mar 20107:00 amRNSFinal Results
1st Feb 20107:00 amRNSAlex Batchelor Appointed COO
19th Jan 20107:00 amRNSTrading Update
4th Jan 20102:10 pmRNSShare Dealings
22nd Sep 20097:00 amRNSInterim Dividend
22nd Sep 20097:00 amRNSInterim Results
1st Sep 20097:00 amRNSNotice of Results
8th Jul 200912:46 pmRNSShare Dealings
8th Jul 20097:00 amRNSTrading Statement
13th May 200910:20 amRNSResult of AGM
17th Apr 20097:00 amRNSNotice of AGM
16th Apr 20093:15 pmRNSFinal Dividend

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