Sarossa PLC Buy-back of shares (3635L)
11 January 2016 - 6:00PM
UK Regulatory
TIDMSARS
RNS Number : 3635L
Sarossa PLC
11 January 2016
Sarossa plc
("Sarossa" or the "Company")
Buy-back of shares
Sarossa, the Jersey based investment company involved in the
growth and development of businesses, announces that on Friday, 8
January 2016, it completed the buy-back of 44,402,831 ordinary
shares of 1p each in the Company ("Shares") at an average price of
1.31 pence per share.
At the General Meeting of the Company held on 6 January 2016,
the Company was granted authority to buy-back 81,518,446 Ordinary
Shares. Following this transaction, the Company will have authority
to buy-back a further 2,820,615 Ordinary Shares.
The Shares purchased by the Company are to be cancelled so that
the Company's capital will consist of 464,758,478 Shares which is
the same as the total number of voting rights in the Company, all
of which are identical. This figure 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 and
Transparency Rules.
The above buy-back of Shares was undertaken under a share
buy-back authority approved by the Company's shareholders at the
same time that they approved a resolution for the proposed
cancellation of its Shares from admission to AIM. The cancellation
will take effect on 1 February 2016 and the last day of dealing in
the Shares will be 29 January 2016. As such, interests in Shares
are unlikely thereafter to be readily capable of sale and where a
buyer is identified, it may be difficult to place a fair value on
any such sale.
Following the above buy-backs of Shares, the directors'
percentage holdings in the Company, are now as follows:
Director Number of Shares Percentage
------------------- ---------------- ----------
Michael Bretherton 9,744,140 2.10%
Sarossa Plc
Mike Bretherton, Chairman 01534 719760
WH Ireland Limited (Nominated adviser)
Chris Fielding, Head of Corporate Finance 0207 220 1650
This information is provided by RNS
The company news service from the London Stock Exchange
END
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