Franchise Brands PLC Share Purchase Programme (1858Q)

TIDMFRAN

RNS Number : 1858Q

Franchise Brands PLC

24 June 2022

24 June 2022

FRANCHISE BRANDS PLC

("Franchise Brands", "the Group" or "the Company")

Share purchase programme

Franchise Brands plc (AIM: FRAN), an international multi-brand franchise business, announces that it will continue its discretionary programme to buy ordinary shares of 0.5p each in the Company ("Ordinary Shares") for the next six-month period from 1 July 2022 to 31 December 2022, up to an aggregate value of GBP1,500,000 (the "Programme").

The Trustee of the Franchise Brands PLC Employee Benefit Trust (the "EBT") will purchase Ordinary Shares in accordance with the Programme. The Programme seeks to mitigate the dilutive impact of share option awards and to improve overall shareholder return.

During the period 1 January 2022 to 24 June 2022 ("H1 2022"), the EBT has purchased 427,469 Ordinary Shares at an average price of 139 pence per share. 110,921 Ordinary Shares held by the EBT have been used to satisfy the exercise of options over Ordinary Shares. Accordingly, the EBT currently holds 535,788 Ordinary Shares (31 December 2021: 219,240 Ordinary Shares) which represents 0.41 per cent. (31 December 2021: 0.23 per cent.) of the Company's current issued share capital. The net cash cost to the Company during H1 2022 was GBP445,552.

The Trustees of the EBT have entered into arrangements with the Company's joint broker, Dowgate Capital Limited ("Dowgate"), to carry out on-market purchases of Ordinary Shares under the Programme, including on a discretionary basis independent of the Company during any prohibited periods of the Company, as determined by the UK Market Abuse Regulation, which may fall during the period of the Programme.

Enquiries:

 
 Franchise Brands plc                          + 44 (0) 1625 813231 
 Stephen Hemsley, Executive Chairman 
 Brian Hogan, Chief Financial Officer 
 Julia Choudhury, Corporate Development 
  Director 
 
 Allenby Capital Limited (Nominated Adviser 
  and Joint Broker)                            [phone] 
 Jeremy Porter / Liz Kirchner (Corporate 
  Finance) 
  Amrit Nahal (Sales and Corporate Broking) 
 Dowgate Capital Limited (Joint Broker)        [phone] 
 James Serjeant / Colin Climie / Nicholas 
  Chambers 
 
 MHP Communications (Financial PR)             [phone] 
 Katie Hunt / Catherine Chapman                [phone] 
                                               [e-mail] 
 

About Franchise Brands plc

Franchise Brands is focused on building market-leading businesses in selected customer segments, primarily via a franchise model. The Group currently has a combined network of over 600 franchisees across six principal franchise brands in the UK, North America and Europe. Our focus is on established brands which can benefit from our shared support services, specialist sector expertise, management experience and group resources.

Our B2B brands are Metro Rod, Metro Plumb, Filta, Willow Pumps and Azura, and our principle B2C brands are ChipsAway, Ovenclean and Barking Mad. Each of our brands are leaders in their respective markets. The combined trading history of all the Group's brands is over 190 years. Franchise Brands employs over 430 people from 5 principal offices in the UK as well as Orlando, Florida and the Netherlands.

For further information, visit www.franchisebrands.co.uk .

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June 24, 2022 11:45 ET (15:45 GMT)