TIDMADT

RNS Number : 1692A

AdEPT Telecom plc

18 December 2014

AdEPT Telecom plc

("AdEPT" or the "Company")

Proposed share buyback

Pursuant to the general authority given to it at the Company's 2014 Annual General Meeting, the Company announces that it intends to commence a limited share buyback of its own ordinary shares ("Shares") ("the Share Buyback").The maximum number of Shares which can be purchased by the Company through such market purchases is 3,310,440 Shares. Any Shares re-purchased will be cancelled.

The maximum price (exclusive of expenses) which may be paid for a Share shall not be more than the higher of (i) an amount equal to 5 per cent. above the average market value of the Shares for the five business days immediately preceding the date on which the Share is contracted to be purchased; and (ii) the higher of the price of the last independent trade and the current highest independent bid on the trading venue where the purchase is carried out.

In order not to deviate from the safe harbour set out in MAR 1 Annex 1 to the Financial Conduct Authority's Code of Market Conduct ("the Code"), the Company announces that it may make purchases under the Share Buyback in excess of the Code's limit of 25 per cent. of average daily volume in the 20 trading days preceding the date of the purchase but not exceeding 50 per cent. of such average daily volume.

The Company may not re-purchase Shares during a close period as defined in the AIM Rules for Companies.

For further information on AdEPT Telecom please visit www.adept-telecom.co.uk or contact:

 
 AdEPT Telecom Plc 
 Roger Wilson, Chairman           07786 111 535 
 Ian Fishwick, Chief Executive    01892 550 225 
 John Swaite, Finance 
  Director                        01892 550 243 
 Northland Capital Partners 
  Limited                         020 7382 1100 
 Nominated Adviser 
  Edward Hutton 
 Broking 
  John Howes/Alice Lane

About AdEPT Telecom plc:

AdEPT Telecom plc is one of the UK's leading independent providers of voice and data telecommunications solutions. The Company provides a complete communications portfolio of fixed line calls, line rental, mobile, VoIP and data connectivity products. AdEPT's tailored services are used by thousands of businesses and residential customers across the UK and are brought together through the strategic relationships with tier-1 suppliers such as BT, Vodafone and TalkTalk Business.

AdEPT Telecom is listed on the London Stock Exchange (Ticker: ADT). For further information please visit: www.adept-telecom.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAFAPFFFLFFF

Adept Technology (LSE:ADT)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Adept Technology Charts.
Adept Technology (LSE:ADT)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Adept Technology Charts.