Videndum PLC Share buyback and cancellation programme

RNS Number : 1603L

Videndum PLC

06 November 2024

 

 

6 November 2024

 

Videndum plc

 

SHARE BUYBACK AND CANCELLATION

 

Videndum plc ("the Company") announces that on 5 November 2024 it commenced a share buyback and cancellation programme ("Buyback Programme") of its ordinary shares of 20p each (the "Ordinary shares"). The Company has appointed Investec, as its corporate broker, to manage the buyback programme to repurchase Ordinary shares on its behalf.

 

The Buyback Programme will take place in open market transactions and will be a small buyback to eliminate new issue shares which are tied to a US share plan over which options have been exercised during 2024.

 

The Buyback Programme is in accordance with the Company's general authority to purchase a maximum of 9,420,120 Ordinary Shares, granted by its shareholders at the Annual General Meeting held on 19 June 2024, including that the maximum price paid per Ordinary Share is the highest of: a) an amount equal to 5% above the average market immediately preceding the day on which that Ordinary Share is contracted to be purchased; and b) the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.

 

Under this Buyback Programme, the Company intends to cancel all the purchased Ordinary Shares.

The Buyback Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (each as in force in the UK from time to time, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019.

The Company will make further announcements in due course following any share purchases conducted through the Buyback Programme.

The Company confirms that it currently has no unpublished price sensitive information.

 

Enquiries:

 

Jon Bolton

Group Company Secretary

Telephone: [phone]

 

 

A snapshot of Videndum plc

Videndum is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.

 

Videndum's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, gamers, professional musicians and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, carrying solutions, backgrounds, motion control, audio capture, and noise reduction equipment.

 

We employ around 1,600 people across the world in 10 different countries. Videndum plc is listed on the London Stock Exchange, ticker: VID.

 

More information can be found at: https://videndum.com/

 

LEI number: 2138007H5DQ4X8YOCF14

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

POSQKABNFBDKBDK