19 May 2023
Let's Explore Group PLC
(the "Company" or the "Group")
Transaction in Own Shares, Exercise of Options and TVR
Transaction in Own Shares
Further to the announcement of 8 March 2023, the Company today announces that it has completed the buyback of 21,657,193 ordinary shares of 0.040108663 pence each in the Company ("Ordinary Shares") from Rodney Findley, Kenneth Musen and Alasdair Ritchie (together the "Off-Market Buybacks"). The Off-Market Buybacks were approved by shareholders at the Company's general meeting held on 27 March 2023 and were conditional upon the capital reduction which became effective on 9 May 2023.
The Company has immediately cancelled the purchased Ordinary Shares.
| Date of purchase: | 19 May 2023 |
| Aggregate number of ordinary shares purchased: | 21,657,193 |
| Lowest price paid per share (pence per share): | 3.65 |
| Highest price paid per share (pence per share): | 3.65 |
| Volume weighted average price paid per share (pence per share): | 3.65 |
In order to enact the Off-Market Buybacks, the Company has submitted an unaudited statement of financial position of the Company as at 9 May 2023 to Companies House which verifies that the Company has sufficient distributable reserves.
Exercise of Options
The Company also announces that it has allotted, conditional to admission on AIM, a total of 13,283,833 new Ordinary Shares to Rodney Findley and Kenneth Musen at a price of 2.5p pence each pursuant to the exercise of options under the Company's share option scheme ("Option Shares").
Application has been made for the Option Shares to be admitted to trading on AIM ("Admission"). Admission is expected to take place on or around 24 May 2023. Upon Admission, the Option Shares will rank pari passu in all respects with the existing Ordinary Shares. The Option Shares are expected to be bought back by the Company and cancelled shortly thereafter. A further announcement will be made at the time.
Total Voting Rights
Following the Off-Market Buybacks and Admission, but before the Option Shares have been bought back and cancelled, the Company's issued share capital will consist of 407,797,286 Ordinary Shares. This figure of 407,797,286 may be used by shareholders in the Company 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 share capital of the Company under the Disclosure Guidance and Transparency Rules.
Enquiries:
For further information please visit www.letsexploregroup.com/, or contact:
| Let's Explore Group plc
| Martin Higginson David Marks
| |
| Cenkos Securities plc (Nomad and Sole Broker)
| Adrian Hadden Charlie Combe
| Tel + 44 (0) 207 7397 8900 |
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