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Intercede confirms that it currently has no unpublished price sensitive information.
Tel. +44 (0)1455 558111
Andrew Walker, Finance Director
Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking