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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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02/13/2020 | 03:21am 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 SPAIN)OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ('Zegona')

LEI: 213800ASI1VZL2ED4S65

13 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:

12 February 2020

Number of shares purchased:

200,000

Volume weighted average price paid per share:

£1.099500

Lowest price paid per share:

£1.099500

Highest price paid per share:

£1.099500

Zegona intends to cancel these shares.

Detailed information about the individual purchases is available below.

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

12 February 2020

11:09

200,000

£1.099500

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

Disclaimer

Zegona Communications plc published this content on 13 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2020 08:20:09 UTC

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Number of Analysts 1
Average target price 1,76  €
Last Close Price 0,94  €
Spread / Highest target 88,3%
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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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