12 Aug 2021 14:50
LONDON STOCK EXCHNAGE ANNOUNCEMENT
BMO GLOBAL SMALLER COMPANIES PLC
(the 'Company')
LEI: 2138008RRULYQP8VP386
12 August 2021
Share Buyback Authority
BMO Global Smaller Companies PLC (the 'Company') is restating the details of its current share buyback authority.
At the annual general meeting held on 12 August 2021 the Company was granted authority to repurchase up to 85,262,966 of its ordinary shares. The Company announces that as at 12 August 2021 it has authority to repurchase up to 85,262,966 of its ordinary shares remaining. Unless expressly revoked by shareholders, such authority shall expire at the conclusion of the next annual general meeting of the Company or on 30 October 2022 (whichever is earlier). The Board expects to renew this authority annually and it is expected that similar announcements will be made at the time of each renewal.
Any buyback may be funded from the Company's own cash resources or, if appropriate, from short term borrowings. The maximum price payable per share (exclusive of expenses) must not exceed the higher of: (i) 105% of the average middle market quotations for the five business days preceding the date of purchase; and (ii) the higher of the last independent bid and the highest current independent bid on the London Stock Exchange. Shares repurchased will either be held in treasury or cancelled.
The Company instructs Stifel Nicolaus Europe Limited to act as its broker in respect of its buyback transactions. Any buybacks will be undertaken in accordance with the Company's discount control policy. This arrangement is in accordance with Chapter 12 of the UKLA Listing Rules and the Company's general authority to repurchase shares.
Name of contact and telephone number for enquiries:
Jonathan Latter
For and on behalf of BMO Investment Business Limited, Secretary
Telephone: 020 7628 8000
BGSC.L (BGSC)