Ecora Resources PLC Announces Transaction in Own Shares
On May 30, 2024, Ecora Resources PLC (LSE:ECOR, TSX:ECOR) repurchased 91,503 of its ordinary shares on the London Stock Exchange as part of its share buyback program initiated on March 27, 2024. The shares were bought at prices ranging from 82.50 to 82.80 pence, with a volume-weighted average price of 82.79 pence per share. Post-purchase, Ecora now has 261,732,553 ordinary shares in issue, with 13,320,469 shares held in treasury, leaving 248,412,084 shares carrying voting rights. This figure will be used for regulatory calculations under the FCA's Disclosure Guidance and Transparency Rules.
- Repurchase of 91,503 ordinary shares shows company confidence.
- Volume-weighted average price close to highest price paid may imply strong market valuation.
- Post-buyback total of 248,412,084 ordinary shares carrying voting rights can simplify shareholder calculations.
- Share buyback can positively affect Earnings Per Share (EPS) by reducing the number of shares outstanding.
- Holding 13,320,469 shares in treasury may indicate a lack of immediate growth or investment opportunities.
- Share buyback does not inherently generate revenue or profit, potentially diverting funds from other growth activities.
LONDON, UNITED KINGDOM / ACCESSWIRE / May 31, 2024 / Ecora Resources PLC (LSE:ECOR)(TSX:ECOR) announces that on 30 May 2024, it purchased 91,503 ordinary shares of 2p each in the Company (the "Shares") on the London Stock Exchange through Peel Hunt LLP, in accordance with the terms of its share buyback programme announced on 27 March 2024 (the "Programme"). The Shares acquired will be held in treasury.
| Date of purchase: | 30 May 2024 |
| Aggregate number of ordinary shares purchased: | 91,503 |
| Lowest price paid per share (pence per share): | 82.50 |
| Highest price paid per share (pence per share): | 82.80 |
| Volume weighted average price paid per share (pence per share): | 82.79 |
Following the purchase, the Company will have 261,732,553 ordinary shares of 2p each in issue, of which 13,320,469 ordinary shares are held in treasury. Therefore, the total number of ordinary shares carrying voting rights will be 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.
In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Peel Hunt LLP as part of the Programme.
Name of Issuer | Identity code of the financial instrument | Date | Time | Price (pence) | Quantity bought | Exchange Venue |
Ecora Resources PLC | GB0006449366 | 30/05/2024 | 11:29:54 | 82.80 | 88,186 | LSE |
Ecora Resources PLC | GB0006449366 | 30/05/2024 | 12:49:02 | 82.50 | 3,317 | LSE |
For further information
Ecora Resources PLC | +44 (0) 20 3435 7400 |
Jason Gray - Company Secretary | |
Website: | |
FTI Consulting Sara Powell / Ben Brewerton / Nick Hennis | +44(0) 20 3727 1000 |
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SOURCE: Ecora Resources PLC
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FAQ
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