’Reddit is built for this moment’ - Stock soars on crushed earnings
LONDON - EPE Special Opportunities Limited (ESO), an investment entity, has declared its plan to buy back up to 2% of its issued share capital. The company aims to make these purchases subject to market conditions that offer attractive terms, utilizing its cash reserves to fund the transactions.
The buybacks are in accordance with ESO’s existing policy to repurchase shares. The company has stated that any acquired shares will be held in treasury and that market announcements will follow any such transactions promptly.
The board has noted that the low liquidity levels of ESO’s ordinary shares might pose a challenge to the buyback process. To address this, ESO has resolved to potentially exceed the 25% threshold of the average daily trading volume on any trading day, which is beyond the exemption provided under Article 5(1) of the Market Abuse Regulation (MAR).
Furthermore, ESO has indicated it may pay a premium over the last independent trade price or the highest current independent bid when executing buybacks, in compliance with regulatory requirements.
Numis Securities Limited has been appointed as the broker to manage the share buyback program on behalf of ESO. All transactions will be conducted on regulated trading venues and will adhere to the relevant regulations, except where specifically mentioned.
The company has emphasized that this announcement is purely informational and should not be considered as an offer or solicitation for securities in any jurisdiction. Following each repurchase, details will be disclosed to a Regulatory Information Service in line with MAR requirements.
The disclosure of this information was overseen by Amanda Robinson of Langham Hall Fund Management (Jersey) Limited, on behalf of EPE Special Opportunities Limited. This article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.