Sancus Lending Group Limited ZDP Share Buyback

RNS Number : 3126M

Sancus Lending Group Limited

29 April 2024

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. The person responsible for making this announcement on behalf of the Company is Rory Mepham.

 

29 April 2024

Sancus Lending Group Limited

ZDP Share Buyback

(the "Company")

Sancus Lending Group Limited announces that, in advance of the suspension of its zero dividend preference shares of no par value ("ZDP Shares") on the Standard Segment of the Official List and to trading on the Main Market of the London Stock Exchange from 07.30am on 1 May 2024 (as announced on 26 April 2024), it intends to offer to purchase ZDP Shares pursuant to the authority granted to the Directors by shareholders at the Company's AGM on 19 May 2023  (the "Buyback"). The Buyback is limited to an aggregate purchase amount of £1.5 million and will continue until 4.30p.m. on 30 April 2024. The Buyback may benefit holders of ZDP Shares requiring liquidity.

In accordance with the resolution passed at the AGM, purchases made pursuant to the Buyback Programme must be a) at a maximum price (exclusive of expenses) paid per ZDP Share of 105% of the average of the middle market quotations (as derived from the Daily Official List) of the ZDP Shares for the five business days immediately preceding the date of purchase and b) at a minimum price paid per ZDP Share of £0.01.

The Company has 8,782,388 ZDP Shares in issue, of which 1,118,666 ZDP Shares are held in treasury. ZDP Shares purchased pursuant to the Buyback Programme will be held in treasury.

Shareholders should be aware that a purchase of ZDP Shares by the Company on any trading day may represent a significant proportion of the daily trading volume in the ZDP Shares and could exceed 25 per cent. of the average daily trading volume of the preceding 20 business days.

For further information, please contact:

 

Sancus Lending Group Limited

Rory Mepham

Keith Lawrence

[phone]

 

Liberum Capital (Nominated Adviser and Corporate Broker)

Chris Clarke

William King

[phone]

 

Instinctif Partners (PR Adviser)

Tim Linacre

Vivian Lai

[phone]

 

Apex Group Ltd

Matt Falla

Nicola Momberg

[phone]

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