RNS Number : 4989K
EPE Special Opportunities Limited
01 November 2024
 

 

EPE Special Opportunities Limited

 

Announcement of ZDP Share Buybacks

 

EPE Special Opportunities Limited ("ESO" or the "Company") announces its intention to commence purchases of up to 3,000,000 of the Company's zero dividend preference shares ("ZDP Shares") from today's date up to and including 20 December 2024 ("Share Buybacks"), at pricing up to the accrued redemption yield of the ZDP Shares as at the date of purchase.

 

The proposed Share Buybacks will be funded by the Company's cash reserves. Any ZDP Shares purchased by the Company will be held in treasury.

 

The Board believes that the current low level of liquidity in the ZDP Shares may restrict its ability to purchase ZDP Shares. Accordingly, the Company has agreed that on any given trading day Share Buybacks may exceed 25 per cent. of the average daily trading volume on each trading platform on which the Company's ZDP Shares are traded.

 

The Company may, where it considers appropriate, undertake Share Buybacks at a price that exceeds the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out (being the price stipulated by Article 3(2) of the Commission Delegated Regulation (EU) 2016/1052 (Commission Delegated Regulation), as referred to in Article 5(6) of the Market Abuse Regulation).

 

The proposed Share Buybacks will be effected on behalf of the Company by Panmure Liberum Limited.

 

Details of purchases of any ZDP Shares made by the Company will be notified to a Regulatory Information Service by the Company following any repurchase as required by the Market Abuse Regulation.

 

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.

 

This announcement contains inside information. The person responsible for releasing this information on behalf of the Company is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited.

 

Enquiries:

 

EPIC Investment Partners LLP

+44 (0) 207 269 8860

Rupert Palmer

 

Panmure Liberum Limited

+44 (0) 20 3100 2190

Chris Clarke

 

 


Langham Hall Fund Management (Jersey) Limited

+44 (0) 153 488 5200

Amanda Robinson

 


Cardew Group Limited

+44 (0) 207 930 0777

Richard Spiegelberg

 


Deutsche Numis

+44 (0) 207 260 1000

Nominated Advisor:

Stuart Skinner 

Corporate Broker:

Charles Farquhar

 

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