Non-Standard Finance PLC Share buy-back programme (8372V)

TIDMNSF

RNS Number : 8372V

Non-Standard Finance PLC

08 November 2017

Non-Standard Finance plc

('Non-Standard Finance', the 'Company" or the 'Group')

Share buy-back programme

8 November 2017

The Group announces the commencement of a share buy-back programme (the 'Programme') to repurchase up to 5 million ordinary shares of 5 pence in the Company. The Programme will commence on 8 November 2017 and will end no later than 7 November 2018 (the 'Engagement Period'). Purchases may continue during any closed periods of the Company during the Engagement Period. The aggregate purchase cost of shares purchased under the Programme will not exceed GBP4.25 million.

Background

The Company has appointed Shore Capital Stockbrokers Limited ('Shore Capital') to execute and manage the Programme and has given a non-discretionary irrevocable instruction to Shore Capital to acquire ordinary shares in the Company for subsequent repurchase by the Company.

All trading decisions made by Shore Capital in relation to the Programme will be made independently of, and uninfluenced by, the Company and any shares so purchased will be delivered to the Company during the Engagement Period. Any purchases of its ordinary shares by the Company will be effected within pre-set parameters set out in Shore Capital's engagement letter, and in accordance with the Company's existing AGM authority to repurchase ordinary shares (at the AGM in 2017, shareholders gave the Company authority to purchase a maximum of 31,704,968 ordinary shares), the Financial Conduct Authority's Listing Rules and the provisions of the Market Abuse Regulation 596/2014/EU ('MAR'), including any relevant price thresholds and any volume limits for the purposes of the safe harbour for buy-backs provided under Article 5 of MAR.

The Company will announce any market repurchase of ordinary shares no later than 7.30 a.m. on the business day following the calendar day on which the repurchase occurred. To the extent permitted by law, the Company intends to hold all ordinary shares so purchased in treasury for the purpose of satisfying future obligations in relation to its employees' or other share schemes eligible under the safe harbour for buy-backs provided under Article 5 of MAR.

Shore Capital may undertake transactions in the Company's ordinary shares during the Engagement Period in order to manage its market exposure under the Programme.

For more information:

 
 Non-Standard Finance plc 
  Peter Reynolds, Director, IR and           +44 (0) 20 
  Communications                              3869 9026 
 
 
 Shore Capital                          [phone] 
  Mark Percy                                       7959 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

POSBRBFTMBJMBRR

(END) Dow Jones Newswires

November 08, 2017 02:00 ET (07:00 GMT)