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Cenkos Securities (CNKS)

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Friday 17 July, 2020

Cenkos Securities

EBT Share Purchase Plan

RNS Number : 4073T
Cenkos Securities PLC
17 July 2020
 

17 July 2020

Cenkos Securities plc

("Cenkos" or the "Company")

 

EBT Share Purchase Plan

 

The Company announces that Zedra Trust Company (Guernsey) Limited ("Zedra" or the "Trustee"), which administers the Cenkos Securities plc Employee Benefit Trust (the "EBT"), has entered a trading plan (the "EBT Share Purchase Plan") with the Company. This new trading plan replaces a previous plan that expired on 30 June 2020. The EBT Share Purchase Plan will, unless terminated by the Trustee at an earlier date, expire on 31 December 2020.  

 

Under the EBT Share Purchase Plan the Trustee will instruct Ravenscroft Limited, as broker, to acquire ordinary shares of 1p each in the Company ("Ordinary Shares") for the EBT. Purchases under the EBT Share Purchase Plan will be limited to £200,000 of Ordinary Shares (by market value) per calendar month and the maximum price paid for such Ordinary Shares shall be an amount equal to the higher of: (i) 5% above the average of the middle market quotations for such Ordinary Shares for the preceding five business days immediately preceding the day on which the purchase is made; (ii) the price of the last independent trade of Ordinary Shares on the venue where the purchase is carried out; and (iii) the highest current independent bid for an Ordinary Share as derived from the trading venue where the purchase is carried out.  

 

Zedra, as Trustee of the EBT, can hold up to 10% of the Company's issued ordinary share capital and has absolute discretion and independence in respect of all trading decisions it may make in respect of the purchase of Ordinary Shares pursuant to the EBT Share Purchase Plan.

 

For further information, please contact: 

 

Cenkos Securities plc    

Jim Durkin, Chief Executive Officer

 

Tel: 0207 397 8900

SPARK Advisory Partners Limited

Matt Davis, Nominated Adviser

Tel: 0203 368 3552



Buchanan Communications

David Rydell, PR Adviser

 

Tel: 0207 466 5066

 

 

 


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