Franchise Brands PLC Share Purchase Programme (1858Q)
25 June 2022 - 1:45AM
UK Regulatory
TIDMFRAN
RNS Number : 1858Q
Franchise Brands PLC
24 June 2022
24 June 2022
FRANCHISE BRANDS PLC
("Franchise Brands", "the Group" or "the Company")
Share purchase programme
Franchise Brands plc (AIM: FRAN), an international multi-brand
franchise business, announces that it will continue its
discretionary programme to buy ordinary shares of 0.5p each in the
Company ("Ordinary Shares") for the next six-month period from 1
July 2022 to 31 December 2022, up to an aggregate value of
GBP1,500,000 (the "Programme").
The Trustee of the Franchise Brands PLC Employee Benefit Trust
(the "EBT") will purchase Ordinary Shares in accordance with the
Programme. The Programme seeks to mitigate the dilutive impact of
share option awards and to improve overall shareholder return.
During the period 1 January 2022 to 24 June 2022 ("H1 2022"),
the EBT has purchased 427,469 Ordinary Shares at an average price
of 139 pence per share. 110,921 Ordinary Shares held by the EBT
have been used to satisfy the exercise of options over Ordinary
Shares. Accordingly, the EBT currently holds 535,788 Ordinary
Shares (31 December 2021: 219,240 Ordinary Shares) which represents
0.41 per cent. (31 December 2021: 0.23 per cent.) of the Company's
current issued share capital. The net cash cost to the Company
during H1 2022 was GBP445,552.
The Trustees of the EBT have entered into arrangements with the
Company's joint broker, Dowgate Capital Limited ("Dowgate"), to
carry out on-market purchases of Ordinary Shares under the
Programme, including on a discretionary basis independent of the
Company during any prohibited periods of the Company, as determined
by the UK Market Abuse Regulation, which may fall during the period
of the Programme.
Enquiries:
Franchise Brands plc + 44 (0) 1625 813231
Stephen Hemsley, Executive Chairman
Brian Hogan, Chief Financial Officer
Julia Choudhury, Corporate Development
Director
Allenby Capital Limited (Nominated Adviser
and Joint Broker) +44 (0) 20 3328 5656
Jeremy Porter / Liz Kirchner (Corporate
Finance)
Amrit Nahal (Sales and Corporate Broking)
Dowgate Capital Limited (Joint Broker) +44 (0) 20 3903 7715
James Serjeant / Colin Climie / Nicholas
Chambers
MHP Communications (Financial PR) +44 (0) 20 3128 8100
Katie Hunt / Catherine Chapman +44 (0) 7884 494112
franchisebrands@mhpc.com
About Franchise Brands plc
Franchise Brands is focused on building market-leading
businesses in selected customer segments, primarily via a franchise
model. The Group currently has a combined network of over 600
franchisees across six principal franchise brands in the UK, North
America and Europe. Our focus is on established brands which can
benefit from our shared support services, specialist sector
expertise, management experience and group resources.
Our B2B brands are Metro Rod, Metro Plumb, Filta, Willow Pumps
and Azura, and our principle B2C brands are ChipsAway, Ovenclean
and Barking Mad. Each of our brands are leaders in their respective
markets. The combined trading history of all the Group's brands is
over 190 years. Franchise Brands employs over 430 people from 5
principal offices in the UK as well as Orlando, Florida and the
Netherlands.
For further information, visit www.franchisebrands.co.uk .
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