Ecora Resources PLC Announces Completion of U$10 million Buyback Programme

Rhea-AI Summary

Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) has concluded its $10 million share buyback programme, acquiring a total of 9,491,317 ordinary shares at an average price of 83.77 pence per share. Initiated on March 27, 2024, and completed on May 30, 2024, the shares were purchased on the London Stock Exchange through Peel Hunt LLP. The repurchased shares are held in treasury, bringing the total number of treasury shares to 13,320,469 out of 261,732,553 issued shares. Consequently, 248,412,084 shares carry voting rights. Shareholders can use this figure for calculations required by FCA's Disclosure Guidance and Transparency Rules.

Positive

• Completion of $10 million share buyback programme.
• Acquisition of 9,491,317 shares at an average price of 83.77 pence per share.
• Total of 13,320,469 shares held in treasury.
• 248,412,084 shares now carrying voting rights, aiding in transparency.

Negative

• No mention of increased revenue or profits linked to the buyback.
• Potential negative perception due to the large number of repurchased shares held in treasury.

LONDON, UNITED KINGDOM / ACCESSWIRE / May 31, 2024 / Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) announces that following the purchase of ordinary shares on 30 May 2024, the Company's share buyback programme (the "Programme"), as announced on 27 March 2024, has been completed.

Over the course of the Programme, the Company has acquired in aggregate 9,491,317 ordinary shares of 2 pence each in the Company (the "Ordinary Shares") between 27 March 2024 and 30 May 2024 for a total consideration of U$10 million, at a volume weighted average price of approximately 83.77 pence per share. The Ordinary Shares repurchased under the Programme will be held in treasury.

All purchases made under the Programme were made on the London Stock Exchange through the Company's broker, Peel Hunt LLP.

The Company has 261,732,553 Ordinary Shares in issue, of which 13,320,469 Ordinary Shares are now held in treasury. Therefore, the total number of Ordinary Shares carrying voting rights is 248,412,084.

The above figure of 248,412,084 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information:

Ecora Resources PLC	+44 (0) 20 3435 7400
Jason Gray - Company Secretary
Website:	www.ecora-resources.com
FTI Consulting	+44(0) 20 3727 1000
Sara Powell / Ben Brewerton / Nick Hennis	ecoraresources@fticonsulting.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Ecora Resources PLC

View the original press release on accesswire.com

FAQ

What is the total value of Ecora Resources' share buyback programme?

The total value of Ecora Resources' share buyback programme is $10 million.

How many shares did Ecora Resources repurchase under the buyback programme?

Ecora Resources repurchased a total of 9,491,317 ordinary shares under the buyback programme.

What was the average price per share in Ecora Resources' buyback programme?

The average price per share in Ecora Resources' buyback programme was approximately 83.77 pence.

When did Ecora Resources complete its share buyback programme?

Ecora Resources completed its share buyback programme on May 30, 2024.

How many shares of Ecora Resources carry voting rights after the buyback programme?

248,412,084 shares of Ecora Resources currently carry voting rights after the buyback programme.