Intercede announces its intention to commence a share buyback programme (the “Buyback Programme”) to acquire up to 250,000 ordinary shares of 1 pence each in the capital of the Company (“Ordinary Shares”) as and when they become available at volumes and prices that, from time to time, the Board considers appropriate.
The Board intends that any Ordinary Shares acquired pursuant to the Buyback Programme will be held in treasury and used in relation to staff incentive schemes. Any shares acquired pursuant to the Buyback Programme will be immediately notified to a Regulatory Information Service in accordance with the AIM Rules for Companies.
Any acquisitions will be effected in accordance with the Company’s general authority to buy back Ordinary Shares and within certain set parameters, including that the maximum price paid per Ordinary Share is to be no more than 105% of the average middle market price of an Ordinary Share for the five business days preceding the date of acquisition.
In addition, given the liquidity in the Ordinary Shares, the Company may buy back in any one day more than 25% of the average daily volume over the preceding 20 business days.
Intercede confirms that it currently has no unpublished price sensitive information.
Intercede is a software company specializing in identity and credential management with a global team of experts located in the US and UK.
Intercede’s MyID software enables organizations to create and use trusted digital identities for employees, citizens and machines. This allows secure access to services, facilities, information and networks.
MyID meets the highest government standards yet is simple enough to be deployed onto consumer devices such as smart phones and tablets. Critically, MyID provides an easy, convenient and secure alternative to passwords.
Millions of identities are managed using MyID and Intercede has provided identity verification and management services to global customers for more than 20 years. MyID is a commercial off the shelf software product, designed and developed to be configurable so it can be embedded as the cornerstone of cyber security infrastructure for governments and corporations.
Customers trusting Intercede for secure digital identity include the US and UK governments and some of the world’s largest corporations, telecommunications providers and information technology partners.
For more information visit: www.intercede.com
Tel. +44 (0)1455 558111
Andrew Walker, Finance Director
Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking