SCISYS PLC Share Buy-Back Programme (7684D)

TIDMSSY

RNS Number : 7684D

SCISYS PLC

02 May 2017

SCISYS PLC ("SCISYS")

(AIM: SSY)

Share Buy-Back Programme

SCISYS PLC ("SCISYS"; AIM SSY), the supplier of bespoke software systems, IT-based solutions and support services to the Media & Broadcast, Space, Government, Defence and Commercial sectors, announces that it is to commence a GBP250,000 buyback programme to repurchase ordinary shares of 25 pence each in the capital of SCISYS ("Ordinary Shares" and the "Programme"). The Programme will be managed by finnCap Limited ("finnCap") and its sole purpose is to mitigate the dilutory effect of expected share option exercises by employees of SCISYS.

SCISYS announces that it has entered into an irrevocable, non-discretionary arrangement with finnCap in relation to the Programme and that finnCap will make its trading decisions concerning the timing of the purchases of Ordinary Shares independently of and uninfluenced by SCISYS.

The Programme commences on 2 May 2017 and will continue, subject to the renewal of the Company's buy-back authority resolution at the AGM to be held on 8 June 2017, until no later than 20 July 2017. Purchases may continue during any prohibited periods (as defined by MAR) of SCISYS which may fall during this period.

During the course of the Programme, SCISYS will make further notifications to the market as and when share purchases are made.

Ordinary Shares purchased as part of the Programme will be held as treasury shares. The number of Ordinary Shares purchased under the Programme will not exceed

1) prior to 8 June 2017, the maximum number of Ordinary Shares permitted to be purchased under the authority to purchase shares in SCISYS granted by shareholders at SCISYS' 2016 Annual General Meeting, being 2,875,275 shares; and

2) following 8 June 2017, the maximum number of Ordinary Shares permitted to be purchased under the authority to purchase shares in SCISYS to be proposed at SCISYS' 2017 Annual General Meeting, on 8 June 2017 being 2,873,538 shares.

For further information please contact:

 
                                             [phone] 
 SCISYS PLC                                   466 
------------------------------------------  -------------------------- 
     Mike Love          Chairman 
---------------------  -------------------  -------------------------- 
     Klaus Heidrich     Chief Executive 
                         Officer 
---------------------  -------------------  -------------------------- 
     Chris Cheetham     Finance Director 
---------------------  -------------------  -------------------------- 
 finnCap (NOMAD 
  & Broker)                                  [phone] 
------------------------------------------  -------------------------- 
     Julian Blunt       Corporate Finance 
---------------------  -------------------  -------------------------- 
 Walbrook PR                                 [phone] 
------------------------------------------  -------------------------- 
     Tom Cooper/Paul 
      Vann                                   [phone] 
------------------------------------------  -------------------------- 
                                             [e-mail] 
 -----------------------------------------  -------------------------- 
 

About SCISYS:

Employing around 500 staff, SCISYS group is a leading developer of Information and Communications Technology services, e-Business, web and mobile applications, editorial newsroom solutions and advanced technology solutions. The Company operates in a broad spectrum of market sectors including Media & Broadcast, Space, Government and Defence and Commercial sectors. SCISYS clients are predominantly blue chip and public sector organisations. Customers include the Environment Agency, the Ministry of Defence, Airbus Defence & Space, Arqiva, Vodafone, the European Space Agency, Eumetsat, the BBC, RNLI, AON, Interflora and the National Trust. The Company has UK offices in Chippenham, Bristol, Leicester and Reading and German offices located in Bochum, Darmstadt and Munich. More information is available at www.scisys.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 02, 2017 02:00 ET (06:00 GMT)