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The Pebble Group PLC Announces Commencement of Share Buyback Programme

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The Pebble Group PLC has announced the commencement of a share buyback programme for its Ordinary Shares, with an initial maximum aggregate consideration of £5.0m. The program aims to reduce the share capital of the Group, demonstrating confidence in future value, enhancing shareholder returns, and focusing on capital allocation. The purchases will be managed by Berenberg on the London Stock Exchange within set parameters, in accordance with regulatory requirements. The buyback will continue until the set conditions are met or by June 30, 2025, with all repurchased shares to be cancelled.

The Pebble Group PLC ha annunciato l'avvio di un programma di riacquisto delle proprie azioni ordinarie, con un considerazione massima iniziale di 5,0 milioni di sterline. Il programma mira a ridurre il capitale azionario del Gruppo, dimostrando fiducia nel valore futuro, migliorando i rendimenti per gli azionisti e concentrando l'allocazione del capitale. Gli acquisti saranno gestiti da Berenberg sulla Borsa di Londra, seguendo parametri stabiliti e in conformità con i requisiti normativi. Il riacquisto continuerà fino al raggiungimento delle condizioni impostate o fino al 30 giugno 2025, con l'annullamento di tutte le azioni riacquistate.
The Pebble Group PLC ha anunciado el inicio de un programa de recompra de sus Acciones Ordinarias, con una consideración agregada máxima inicial de £5.0 millones. El programa tiene como objetivo reducir el capital social del Grupo, demostrando confianza en el valor futuro, mejorando los retornos para los accionistas y enfocándose en la asignación de capital. Las compras serán gestionadas por Berenberg en la Bolsa de Londres dentro de parámetros establecidos, de acuerdo con los requisitos regulatorios. La recompra continuará hasta que se cumplan las condiciones establecidas o hasta el 30 de junio de 2025, y todas las acciones recompradas serán canceladas.
Pebble Group PLC는 보통주에 대한 주식 매입 프로그램을 시작했다고 발표했습니다. 처음 최대 총 고려 금액은 5.0백만 파운드입니다. 이 프로그램은 그룹의 주식 자본을 줄이고, 미래 가치에 대한 확신을 나타내며, 주주 수익을 향상시키고 자본 배분에 초점을 맞추는 것을 목표로 합니다. 매입은 런던 증권거래소에서 베렌베르크에 의해 관리되며, 설정된 매개변수 내에서 규제 요구 사항에 따라 이루어집니다. 매입은 설정된 조건이 충족되거나 2025년 6월 30일까지 계속되며, 매입된 모든 주식은 취소될 것입니다.
The Pebble Group PLC a annoncé le lancement d'un programme de rachat de ses actions ordinaires, avec une considération agrégée maximale initiale de 5,0 millions de livres. Le programme vise à réduire le capital social du Groupe, à démontrer la confiance dans la valeur future, à améliorer les retours pour les actionnaires et à se concentrer sur l'allocation du capital. Les achats seront gérés par Berenberg sur la Bourse de Londres, dans le cadre de paramètres établis, conformément aux exigences réglementaires. Le rachat se poursuivra jusqu'à ce que les conditions fixées soient remplies ou jusqu'au 30 juin 2025, toutes les actions rachetées devant être annulées.
The Pebble Group PLC hat den Beginn eines Aktienrückkaufprogramms für ihre Stammaktien angekündigt, mit anfänglicher maximaler Gesamtüberlegung von 5,0 Millionen Pfund. Das Programm zielt darauf ab, das Aktienkapital der Gruppe zu reduzieren, Vertrauen in den zukünftigen Wert zu demonstrieren, die Renditen für die Aktionäre zu verbessern und sich auf die Kapitalallokation zu konzentrieren. Die Käufe werden von Berenberg an der Londoner Börse innerhalb festgelegter Parameter und gemäß regulatorischen Anforderungen verwaltet. Der Rückkauf wird fortgesetzt, bis die festgesetzten Bedingungen erfüllt sind oder bis zum 30. Juni 2025, wobei alle zurückgekauften Aktien storniert werden.
Positive
  • The initiation of the share buyback programme by The Pebble Group PLC reflects the company's strong balance sheet, confidence in future value, and commitment to enhancing shareholder returns.

  • Reducing the share capital through the buyback program indicates a strategic focus on capital allocation and efficient use of available resources.

Negative
  • Although the share buyback program shows confidence in the company's future, there is a risk associated with the effectiveness of this strategy in generating long-term shareholder value.

  • Potential uncertainties in the market conditions or fluctuations could impact the success of the share buyback program and its desired outcomes.

MANCHESTER, UK / ACCESSWIRE / May 1, 2024 / The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, is pleased to announce the commencement of a share buyback programme in the Group's ordinary shares of 1 pence each ("Ordinary Shares"), up to an initial maximum aggregate consideration of £5.0m (the "Share Buyback Programme"). The Group initially announced its intention to undertake the Share Buyback Programme in its Audited Full Year Results 2023, published on 19 March 2024 and it was also noted in its AGM Trading Update on 30 April 2024.

The Board considers that the Group's strong balance sheet provides an opportunity to repurchase its Ordinary Shares at an attractive level whilst returning capital back to shareholders. This initiative reflects both the Board's confidence in the Group's future value, continued focus on capital allocation and enhancing shareholder returns, alongside its continued investment in the Group's strategy. There are no changes expected to the Group's existing dividend policy.

The purpose of the Share Buyback Programme is to reduce the share capital of the Group.

In order to implement the Share Buyback Programme, The Pebble Group has entered into an agreement with its retained corporate broker, Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"), on the following basis:

Berenberg will manage the purchases on a discretionary basis, purchasing Ordinary Shares on the London Stock Exchange within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Group.

The Share Buyback Programme will be executed in accordance with the authorities to repurchase Ordinary Shares granted by the Group's shareholders at the Annual General Meeting ("AGM") held on 30 April 2024.

The Share Buyback Programme will also be conducted in accordance with the safe harbour parameters of the EU Market Abuse Regulation (596/2014) (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and the AIM Rules.

Any Ordinary Shares purchased will be cancelled, and therefore will reduce the issued share capital of the Group accordingly.

The Group has authorised the Share Buyback Programme to commence from today and will continue whilst it retains the authority from shareholders to repurchase Ordinary Shares until the earlier of: (i) the maximum aggregate consideration payable by the Group has been reached or (ii) at close of business on 30 June 2025 or, if earlier, at the conclusion of the Company's AGM to be held in 2025.

Any market purchase of Ordinary Shares pursuant to the Share Buyback Programme will be announced no later than 7:30am (UK time) on the business day following the day on which the purchased occurred.

Enquiries:

The Pebble Group
Chris Lee, Chief Executive Officer
Claire Thomson, Chief Financial Officer
+44 (0) 750 012 4121

Temple Bar Advisory (Financial PR)
Alex Child-Villiers / Alistair de Kare-Silver / Sam Livingstone
+44 (0) 207 183 1190
pebble@templebaradvisory.com

Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke / Ciara Donnelly
+44 (0) 207 184 4384

Berenberg (Corporate Broker)
Ben Wright / Mark Whitmore / Richard Andrews
+44 (0) 203 207 7800

About The Pebble Group plc

The Pebble Group is a provider of digital commerce, products and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market. For further information, please visit www.thepebblegroup.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: The Pebble Group PLC



View the original press release on accesswire.com

FAQ

What is The Pebble Group PLC announcing?

The Pebble Group PLC has announced the commencement of a share buyback programme for its Ordinary Shares.

What is the initial maximum aggregate consideration for the share buyback programme?

The initial maximum aggregate consideration for the share buyback programme is £5.0m.

Who will manage the purchases of Ordinary Shares for the buyback program?

Berenberg will manage the purchases of Ordinary Shares on the London Stock Exchange within pre-set parameters.

How will the share buyback program be executed?

The share buyback program will be executed in accordance with the authorities granted by the Group's shareholders at the Annual General Meeting.

When will the market purchases of Ordinary Shares be announced?

Market purchases of Ordinary Shares pursuant to the share buyback program will be announced no later than 7:30am (UK time) on the business day following the purchase.

PEBBLE GROUP PLC

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