Ocean Outdoor Limited Purchases of shares during open periods (5134T)

TIDMOOUT

RNS Number : 5134T

Ocean Outdoor Limited

21 March 2019

Ocean Outdoor Limited

Purchases of shares during open periods

Ocean Outdoor Limited (the "Company") announces that it has entered into an arrangement with Barclays Bank PLC, acting through its investment bank ("Barclays") to commence a discretionary share buyback programme to purchase up to an aggregate amount of $25,000,000 of the Company's ordinary shares of no par value. The arrangement allows Barclays to purchase up to 5,000,000 ordinary shares in the Company during open periods of the Company arising between the date hereof and 30 September 2019.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Barclays and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase ordinary shares and the price limits of Regulation (EU) No 596/2014 of 16 April 2014 (as amended) in relation to market abuse which requires that the maximum price paid be limited to not higher than the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out. The aggregate purchase price under this arrangement will not exceed $25,000,000.

The sole purpose of these share purchases is to reduce the Company's share capital. Any ordinary shares purchased by the Company will be held in treasury.

Further information can be found on the Company's website: www.oceanoutdoor.com

 
 Ocean Outdoor                       020 7292 6161 
 Tim Bleakley, CEO 
  Stephen Joseph, CFO 
 Yellow Jersey PR                    07747 788 221 
 Charles Goodwin, Georgia Colkin, 
  Joe Burgess 
 

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March 21, 2019 03:01 ET (07:01 GMT)