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LONDON - Accesso Technology Group plc (AIM: ASCO), a leading provider of technology solutions to the leisure, entertainment, and cultural sectors, has initiated a share repurchase program to buy back up to £8 million worth of its shares. The program, which was announced today, aims to reduce the company’s share capital and will continue until the allocated funds are fully utilized.
The repurchase of ordinary shares, each with a nominal value of 1 pence, will lead to their cancellation. Accesso has appointed Numis Securities Limited, operating as Deutsche Numis, to execute the buybacks on its behalf. The transactions will be carried out in the open market, subject to market conditions, share price, and trading volume.
The repurchase program is set to operate under the terms of the General Authority and within the legal framework of the Market Abuse Regulation 596/2014/EU, as incorporated into UK law. However, the company has indicated that there may be instances where the volume of shares repurchased exceeds 25 percent of the average daily volume for the 20 trading days preceding the buyback.
As of today, Accesso’s total issued share capital comprises 41,008,901 ordinary shares, each carrying one vote. The company has confirmed that it currently holds no unpublished inside information that would affect its decision to repurchase shares.
The company will make announcements about any market repurchases of ordinary shares no later than 7.30am on the business day following the day of the transaction. This share repurchase program is based on a press release statement issued by Accesso Technology Group plc.
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