Amino Technologies PLC Notice of GM for authority to buy back shares (0485Y)
01 December 2017 - 6:01PM
UK Regulatory
TIDMAMO
RNS Number : 0485Y
Amino Technologies PLC
01 December 2017
Amino Technologies plc
("Amino" or the "Company")
Notice of General Meeting for authority to buy back shares
Amino Technologies plc (LSE: AMO), the global provider of
digital TV entertainment and cloud solutions to network operators,
today announces that a notice of a general meeting of the Company,
to be held at the offices of Amino Technologies Plc, at Buckingway
Business Park, Anderson Road, Swavesey, Cambridge, CB24 4UQ at
10:00 a.m. on 15(th) December 2017 (the "General Meeting") has
today been posted to shareholders. The General Meeting is being
held for the purpose of considering and, if thought fit, approving
a resolution to grant the Company the general authority to make
market purchases of its own ordinary shares of 1 pence each
("Ordinary Shares") within the meaning of Section 693 of the
Companies Act 2006.
The Board, having consulted with its advisers, believes it to be
in the best interests of the Company and its shareholders as a
whole to have authority to purchase its Ordinary Shares in the
market.
The Board is mindful of the financial impact any market
purchases of its Ordinary Shares may have on the Company. The Board
will only proceed to make market purchases of its Ordinary Shares
at prices which make sense for the Company as a whole and there can
be no certainty that any of the buyback authority sought at the
General Meeting under Resolution 1 will be utilised. The Directors
have confirmed that none of them will, nor do they have any current
intention to, sell any of the Ordinary Shares which they
beneficially own to the Company should the Company utilise the
buyback authority.
Therefore, Company will seek approval at the General Meeting to
enable it to make market purchases of its Ordinary Shares, subject
to:
(i) a maximum limit of 7,261,927 shares representing
approximately 10% of the issued share capital of the Company (after
deducting Ordinary Shares held in treasury); and
(ii) a maximum price, exclusive of any expenses, which may be
paid for any Ordinary Share being the higher of:
-- an amount equal to 105% of the average middle market
quotations for the Shares (derived from the AIM appendix to the
London Stock Exchange's Daily Official List) for the five business
days prior to the date of purchase; and
-- an amount equal to the higher of the price quoted for the
last independent trade of a Share and the highest current
independent bid for a Share on the trading venue where the purchase
is carried out.
Should the authority to make market purchases of its Ordinary
Shares be granted, the Company will announce details of any share
buyback programme in due course, and the aforementioned authority
hereby conferred shall expire on the conclusion of the earlier of
31 May 2018 or the Company's next Annual General Meeting.
For further information please contact:
Amino Technologies PLC +44 (0)1954 234100
Donald McGarva, Chief Executive Officer
Mark Carlisle, Chief Financial Officer
finnCap Ltd (NOMAD and Joint Broker) +44 (0)20 7220 0500
Matt Goode / Carl Holmes /Simon Hicks (Corporate Finance)
Simon Johnson (Corporate Broking)
Canaccord Genuity Limited (Joint Broker and Financial Adviser) +44 (0)20 7523 8000
Simon Bridges / Emma Gabriel
FTI Consulting LLP (Financial PR) +44 (0)20 3727 1000
Jamie Ricketts / Alex Le May / Darius Alexander
About Amino Technologies plc
Amino Technologies plc is a global leader in innovative IP/Cloud
video software and device solutions that enable service providers
to transform the consumer experience. As pioneers of IPTV and with
over seven million devices sold worldwide, Amino has a proven track
record for rock-solid reliability, innovation and best-in-class
customer care. Over 1,000 of the world's leading service providers,
across 100 countries have relied on Amino to provide a seamless
delivery of rich entertainment experiences. We pride ourselves in
providing award-winning solutions that enable the delivery of
innovative services to enrich the lives of connected consumers.
Amino Technologies plc is headquartered near Cambridge, in the UK,
and is listed on the AIM market of the London Stock Exchange (AIM:
symbol AMO). www.aminocom.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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