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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Zegona Communications plc    ZEG   GB00BVGBY890

ZEGONA COMMUNICATIONS PLC

(ZEG)
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Zegona Communications : SHARE BUYBACK PROGRAMME - PROGRESS UPDATE

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02/03/2020 | 02:21am EDT

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICAOR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM AND SPAIN)OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ('Zegona')

LEI: 213800ASI1VZL2ED4S65

3 February 2020

ZEGONA SHARE BUYBACK PROGRAMME - PROGRESS UPDATE

On 7 January Zegona announced a Buyback1 programme of its Ordinary Shares2 for an aggregate purchase price of up to £10 million. Zegona's Board has set a Buyback Policy3 that allows shares to be acquired at prices up to the Underlying Asset Value Per Share4.

As part of this programme, Barclays Bank plc, on behalf of Zegona, has purchased the following number of Ordinary Shares:

Date of purchase:

31 January 2020

Number of shares purchased:

207,383

Volume weighted average price paid per share:

£1.077500

Lowest price paid per share:

£1.077500

Highest price paid per share:

£1.077500

Zegona intends to cancel these shares.

Detailed information about the individual purchases is available below.

As at 31 January, Zegona had purchased an aggregate of 1,211,915 shares for a total of £1,367,016 and cancelled 1,004,532 shares, meaning the total number of voting rights in Zegona is 220,930,6455, each carrying one vote per share.

ENQUIRIES

Tavistock (Public Relations adviser)

Tel: +44 (0)20 7920 3150

Lulu Bridges - lulu.bridges@tavistock.co.uk

Jos Simson - jos.simson@tavistock.co.uk

Trade details:

Purchase date

Purchase time

Volume

Price

Platform

Transaction reference number

31 January 2020

10:53

207,383

£1.077500

XLON

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1. The 'Buyback' is Zegona's on-market share buyback programme for an aggregate purchase price of up to £10 million, announced on 7 January 2020

2. Ordinary shares of £0.01 each in the capital of Zegona ('Ordinary Shares')

3. Zegona's 'Buyback Policy' is that shares may be acquired at prices up to the Underlying Asset Value per Share on the day of purchase, subject also to normal market practice as regards buyback pricing, as set out in the Important Notices section of Zegona's buyback programme announcement dated 7 January 2020

4. The 'Underlying Asset Value per Share' is defined for any day as the value in pounds sterling on the previous trading day of Zegona's investment in Euskaltel (using the €/£ FX rate on that day) and net cash balance divided by the number of Zegona Ordinary Shares in issue

5. These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests, or a change to their interest, in Zegona under the FCA's Disclosure Guidance and Transparency Rules.

Disclaimer

Zegona Communications plc published this content on 03 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2020 07:19:06 UTC

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Managers
NameTitle
Eamonn Francis O'Hare Chairman & Chief Executive Officer
Robert W. Samuelson Chief Operating Officer & Executive Director
Dean Checkley Chief Financial Officer
Mark Irvine John Brangstrup Watts Non-Executive Director
Murray Scott Independent Non-Executive Director
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