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1 October 2015

SEPURA PLC

ANNOUNCEMENT OF SHARE BUY-BACK PROGRAMME TO SATISFY THE FUTURE EXERCISE OF AWARDS UNDER EMPLOYEE SHARE SCHEMES

On 29 September 2014, the Company announced a buy-back programme which was suspended on 1 May 2015 following announcement of the Company's acquisition of Teltronic, and concluded on 26 September 2015.  The Company today announces the launch of a new ordinary share buy-back programme under the authority granted to the Company by shareholders at the AGM on 7 September 2015 which will take effect from the commencement of the Company's formal close period in respect of its interim results on 3 October 2015 and conclude on 27 September 2016 (unless terminated earlier) (the "Programme"). It is intended that the ordinary shares bought back under the Programme will be held in treasury to satisfy the future exercise of awards under the Company's employee share incentive schemes.

Sepura has appointed Liberum Capital Limited ("Liberum") to manage the Programme and has authorised Liberum to effect on-market purchases of ordinary shares (the "Ordinary Shares") on behalf of the Company on the Main Market of the London Stock Exchange plc (the "Exchange"). 

Pursuant to and during the term of the Programme, Liberum may independently of, and without influence by the Company, purchase Ordinary Shares from time to time at its absolute discretion provided that:

1)   the maximum price payable for an Ordinary Share on the Exchange is an amount equal to the higher of:

a.   105 per cent. of the average market value of the Company's Ordinary Shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased; or

b.   the higher of the price of the last independent trade and the highest current bid stipulated by Article 5(1) of the Commission Regulation (Directive 2003/6/EC) 22 December 2003 implementing the Market Abuse Directive with regard to exemptions for buy back programmes and stabilisation of Financial Instruments (No. 2273/2003); and

2)   the aggregate number of Ordinary Shares which may be acquired on behalf of the Company in connection with the Programme shall not exceed 1,800,000.

Due to the limited liquidity in the Ordinary Shares, a buy-back of Ordinary Shares pursuant to the Programme on any trading day is likely to represent a significant proportion of the daily trading volume in the Ordinary Shares on the Exchange (and is likely to materially exceed the 25% and 50% limits of the average daily trading volume of August 2015 as referred to in the Commission Regulation (EC) No. 2273/2003 on buy-back programmes).

Sepura will announce any market repurchase of Ordinary Shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred.

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