Launch of Share Buyback Programme

Anpario (AIM: ANP), the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity, announces its intention to commence a share buyback programme ("Programme") with an aggregate value of up to £3.0 million.

As referenced in the Company's final results for the year ended 31 December 2025, announced on 31 March 2026, the Company had a strong cash position of approximately £12.4 million. The Board considers that the Company's strong balance sheet and cash generation provides the opportunity to take advantage of current market conditions to repurchase shares at attractive levels and the Programme reflects continued confidence in the Company's future prospects.

Details of the Programme

Anpario has entered into an agreement with Shore Capital Stockbrokers Limited ("Shore Capital") pursuant to which Shore Capital will carry out on-market purchases of Ordinary Shares in the capital of the Company (the "Shares") independent of the Company on an irrevocable and non-discretionary basis. Shore Capital will make its trading decisions in relation to the Programme independently of the Group.

The maximum price paid per Share (exclusive of expenses) will be no more than the higher of: (i) 105% of the average of the middle market quotations taken from the London Stock Exchange Daily Official List for the five business days preceding any Ordinary Shares being purchased; and (ii) the higher of the price of the last independent trade and the highest independent bid for Ordinary Shares on the trading venue where the purchase is carried out. The minimum price shall be no less than (exclusive of expenses) a price of 23 pence per Share, being the nominal value of a Share.

The Programme will commence today, 27 April 2026, and will end no later than 31 July 2026 unless completed or terminated earlier. Under the terms of the Programme, the Shares will be repurchased on the London Stock Exchange and will be cancelled.

The maximum number of Shares which can be repurchased under the Programme is 2,044,524. The purpose of the Programme is to return surplus cash to shareholders and reduce the share capital of the Company in line with this announcement. The Programme will be conducted at all times within the limits of the applicable authority granted by shareholders to repurchase the Company's Ordinary Shares in issue.

However, Shares acquired pursuant to the Programme may on any given trading day represent a significant proportion of the daily trading volume in the Shares on the London Stock Exchange and could exceed 25% of the average daily trading volume. On days where a buyback of shares exceeds 25% of the average daily trading volume, the Company will not benefit from the exemption contained in Article 5(1) in the UK version of MAR. Furthermore, the Programme will not prevent the Company from making additional purchases of Shares, including by way of block trades, in accordance with the Company's general authority to repurchase Ordinary Shares where it considers appropriate to do so.

Any market purchase of Ordinary Shares pursuant to the Programme will be announced no later than 7.30am on the business day following the day on which the purchase occurred.