Sepura plc
("the Company")
Temporary suspension of share buy-back programme
Following this morning's announcement of the proposed acquisition of Teltronic and the fully underwritten firm placing and placing and open offer to raise £56.9 million, net of expenses, the Board of the Company has decided to suspend temporarily the previously announced buy-back programme as of today until the completion of the proposed acquisition. Accordingly the buyback instructions that were issued to the Company's corporate broker, Liberum Capital Limited, on 29 September 2014 will be suspended until further notice.
The buy-back programme commenced on 1 October 2014 and to date 1,400,000 Ordinary Shares have been purchased by the Company for an aggregate consideration of £2,045,000. These Ordinary Shares are being held in treasury to satisfy the future exercise of awards under the Company's employee share incentive schemes.
- Ends -
For further information please contact:
Sepura plc Tony Hunter
|
+ 44 (0) 20 7603 1515 |
Bell Pottinger Olly Scott Eve Kirmatzis
|
+44 (0) 20 3772 2500 |
About Sepura
Sepura is a leading global provider of critical communications solutions for the PMR market. The Group designs, develops and supplies digital radio solutions, complementary accessories, support tools and devices that are used by a wide range of public safety and commercial organisations.
The Group's strategy is to expand its addressable market, through organic product development and the acquisition of complementary products and technologies. The successful execution of this strategy has transformed the Group from being a UK-focused terminals supplier into a geographically and technologically diverse supplier of complete mission critical communications solutions.
Headquartered in Cambridge, England and employing over 400 staff, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007.
You are here: news > regulatory news