The Character Group plc announces an Equity Buyback for 3,141,900 shares, representing 15.03% of its issued share capital.
January 25, 2018 at 02:00 am EST
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The Character Group plc (AIM:CCT) commences share repurchases on January 25, 2018 under the program mandated by the shareholders in the Annual General Meeting held on January 19, 2018. As per the mandate, the company is authorized to repurchase up to 3,141,900 shares, representing 15.03% of its issued share capital. The minimum price which may be paid for each ordinary share will not be less than 5p, the nominal value of each ordinary share and the maximum price which may be paid for each ordinary share will not be more than 105% above the average middle market quotations for the ordinary shares taken from the Daily Official List of the London Stock Exchange for the five business days immediately before the date of purchase. The repurchased shares will be cancelled or held in treasury. The share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting in 2019, or after 15 months from the passing of resolution. As of December 21, 2017, the company had 20,907,602 ordinary shares outstanding excluding shares held in treasury and 3,027,506 ordinary shares in treasury.
The Character Group plc is a United Kingdom-based independent toy company. The Company designs, manufactures and distributes a range of toys, games and playthings. Its product ranges focus on key areas within the toy sector, which include pre-school, boys, girls and activity and crafts. It has also developed and produced a range of wooden toys, vehicles and accessories. The Companyâs product brands include Aphmau, Ben & Holly's Little Kingdom, Bluey, ChillFactor, Cra-Z-Slimy, Doctor Who, Fireman Sam, Heroes of Goo Jit Zu, Jiggly Pets, LankyBox, Mash'ems, Millie & Friends Mouse in the House, Peppa Pig, Shimmer N Sparkle, Spy Ninjas, Stay Active, Stretch Toys, Teenage Mutant Ninja Turtles, Teletubbies and Weebles. It operates in the United Kingdom, Scandinavia and the Far East. It also partners with other overseas-based toy producers, either to market and distribute their products in the United Kingdom or to collaborate to jointly-develop and distribute toy products and ranges worldwide.