Epwin Group PLC has announced the extension of its existing share buyback programme, following the anticipated completion of the initial repurchase limit of 3 million ordinary shares. The extension allows the company to repurchase up to a further 3 million ordinary shares from the date of the announcement. The programme will be conducted within certain pre-set parameters and in accordance with the authority granted by shareholders. It is currently envisaged to end no later than 30 September 2024, unless otherwise agreed. The repurchased ordinary shares will be cancelled, intending to reduce the share capital of the company.
The company has extended its existing agreement with Shore Capital for on-market purchases independent of the company on an irrevocable and non-discretionary basis to implement the extension of the programme. The programme may cease before the end date if the limit of 3 million ordinary shares is reached sooner. The continuation of the programme after the 2024 AGM is subject to purchases of ordinary shares remaining within the shareholder authority granted at the AGM. The company aims to conduct the programme in accordance with the safe harbour parameters of MAR, but it may represent a significant proportion of the daily trading volume in the ordinary shares on the London Stock Exchange.
Any market purchase of ordinary shares pursuant to the programme will be announced no later than 7.30 am on the business day following the day of the purchase. The company confirms that it currently has no other unpublished price-sensitive information. Epwin Group PLC is the leading manufacturer of energy-efficient and low-maintenance building products, with significant market shares, supplying the Repair, Maintenance and Improvement ("RMI"), new build, and social housing sectors. The company is incorporated, domiciled, and operates principally in the United Kingdom.