Extension of & increase to Share Buyback Programme
Character Group extends and increases buyback programme from £2.0m to £3.0m, with expiry extended to January 2026.
- Original buyback programme £2.0m
- Increased to £3.0m
- Shares repurchased to date 631,399 shares
- Average price per share 256 pence
- Consideration to date £1,614,215
- New expiry date 15 January 2026
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On 29 October 2024, Character (AIM: CCT) announced a £2.0 million share buyback programme (the "Share Buyback Programme") as part of its strategy to reduce the Company's share capital. Since the commencement of the Share Buyback Programme, the Company has repurchased for cancellation 631,399 Ordinary Shares in aggregate at a volume weighted average price of 256 pence per Ordinary Share for a total consideration of £1,614,215 (excluding the associated dealing costs).
Character today announces that, further to the Company's announcement on 29 October 2024, the Board has resolved to increase the Share Buyback Programme by up to an additional £1.0 million, to a maximum consideration of £3.0 million. The Board has also amended the long stop expiry date for the Share Buyback Programme from 30 May 2025 until the close of business on 15 January 2026, being the day prior to the expected date of the 2026 annual general meeting.
Under the terms of the Share Buyback Programme, the Share Buyback Programme will be terminated in the event that the Company becomes aware that any person or group of persons known to be acting in concert has become interested in Ordinary Shares carrying 29% or more of the voting rights of Character. This is in order to avoid the triggering of a mandatory offer under Rule 9 of the Takeover Code.
All other terms of the Share Buyback Programme as set out in the announcement on 29 October 2024 remain unchanged.
The Company will continue to make regulatory announcements in respect of its repurchases of Ordinary Shares, as required by UK MAR and the AIM Rules.
As at the close of business on 29 May 2025, the Company's total issued share capital consisted of 18,142,999 Ordinary Shares (excluding treasury shares) and 1,983,059 shares held in treasury. Therefore, the total number of voting rights in the Company was 18,142,999.
As at the close of business on 29 May 2025, the Company had an unutilised capacity to buy back up to a further 2,308,708 Ordinary Shares under the authority granted at the Annual General Meeting on 17 January 2025.
The Character Group plc
FTSE sector: leisure goods
FTSE AIM All-share: symbol: CCT
Market cap: £44.3million
Group website: www.thecharacter.com
Product ranges can also be viewed at www.character-online.co.uk
| CHARACTER GROUP PLC CCT Stock | London Stock Exchange |
Panmure Liberum Limited ( Nominated Adviser and Joint Broker) Atholl Tweedie, Investment Banking Rupert Dearden / Rauf Munir, Corporate Broking Tel: +44 (0) 20 7886 2500
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.