MXC Capital Limited Share Buyback Programme (5987S)
22 December 2016 - 8:14PM
UK Regulatory
TIDMMXCP
RNS Number : 5987S
MXC Capital Limited
22 December 2016
MXC Capital Limited
("MXC" or the "Company")
Share Buyback Programme
MXC Capital Limited (AIM: MXCP), the technology focused merchant
bank, announces that it intends to commence a share buyback
programme of up to GBP300,000 (the "Programme").
The board of the Company believe the current share price is not
representative of the underlying value of the Company and its
prospects.
Any share purchases will be carried out on the London Stock
Exchange and will be effected both in accordance with the terms of
the general authority to make market purchases of its own shares
granted to the Company by shareholders of the Company on 29 January
2016 and the Market Abuse Regulation (EU) No. 596/2014.
Under Article 3 of Commission Delegated Regulation (EU) No
2016/1052, the volume of shares able to be purchased daily by the
Company is limited, hence the Programme will be undertaken using a
phased approach and will continue until further notice, subject to
the buyback approval resolution being approved at the Company's
next Annual General Meeting in respect of any purchases to be made
after the date of that meeting. The purpose of the Programme is to
reduce the capital of the Company; repurchased shares will be
cancelled.
During the course of the Programme, the Company will notify the
market of the number of shares purchased and the price paid per
share as and when share purchases are made.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
MXC Capital Limited
Marc Young
+44(0)20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick How/ Giles Balleny
+44 (0)20 7533 7727
Alma PR
Josh Royston / Hilary Buchanan
+44 (0)7780 901979/+44 (0) 7515 805218
About MXC Capital (www.mxccapital.com)
MXC is a specialist merchant bank with a track record of
investing in and advising companies in the TMT sector. We bring
together a deep knowledge of technology, first-hand experience of
managing companies in the sector, an ability to make meaningful
investments and a highly experienced corporate advisory team in
support, all of which we combine to grow shareholder value.
This information is provided by RNS
The company news service from the London Stock Exchange
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