MXC Capital Limited Share Buyback Programme (5987S)

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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

[phone]

Zeus Capital Limited (Nominated adviser and broker)

Nick How/ Giles Balleny

[phone]

Alma PR

Josh Royston / Hilary Buchanan

[phone]/[phone]

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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December 22, 2016 04:14 ET (09:14 GMT)