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Commencement of extended Share Repurchase Programme

13th Mar 2025 07:01

Molten Ventures Plc (GROW; GRW) Commencement of extended Share Repurchase Programme 13-March-2025 / 07:00 GMT/BST


 

Molten Ventures plc("Molten Ventures", "Molten", or the "Company")

Commencement of extended Share Repurchase Programme

Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high-growth digital technology businesses, announces that, beginning today, 13 March 2025, it will commence an additional share repurchase programme of up to £15m (the "Programme"), as previously announced on 12 February 2025.

The Programme goes significantly beyond the 10% of realisation proceeds previously outlined in the Capital Allocation Policy, doubling the £15m already completed as the Company remains committed to narrowing the current share price discount to asset value.

The Board will continue to monitor the share price discount to net asset value, and should that discount persist the Board will consider committing further capital to the investment opportunity that buying back shares at such wide discounts represents.

The Programme will be financed through existing cash resources and will continue until the earlier of either the expiration of the general authority received at the Company's 2024 AGM ("General Authority") or upon reaching the maximum purchase amount intended under the Programme.

The purchased ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") will be held in treasury.

To implement the Programme, the Company has entered into an irrevocable, non-discretionary agreement with Numis Securities Limited ("Deutsche Numis") to conduct the Programme on its behalf and carry out on-market purchases of Ordinary Shares, acting as riskless principal, and to sell on such Ordinary Shares to the Company. Share repurchases may be made from time to time depending on market conditions, share price and trading volume.

The Company confirms that it currently has no unpublished inside information.

The Programme will operate in accordance with and under the terms of the relevant General Authority. The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the delegated regulations made pursuant to it.

As at 13 March 2025, the Company's issued share capital consists of 189,046,450 Ordinary Shares, the total number of Ordinary Shares in treasury is 4,186,493 and the total number of voting rights in the Company is 184,859,957.

The Company will announce any market repurchase of Ordinary Shares no later than 7.30am on the business day following the calendar day on which the repurchase occurred.

 

Enquiries

Molten Ventures plc

Ben Wilkinson (Chief Executive Officer)

Andrew Zimmermann (Chief Financial Officer)

+44 (0)20 7931 8800

[email protected]

Deutsche Numis

Joint Financial Adviser and Corporate Broker

Simon Willis

Jamie Loughborough

Iqra Amin

+44 (0)20 7260 1000

Goodbody Stockbrokers

Joint Financial Adviser and Corporate Broker

Don Harrington

Tom Nicholson

William Hall

+44 (0) 20 3841 6202

Sodali

Public relations

Elly Williamson

Jane Glover

+44 (0)7970 246 725/

+44 (0)771 324 6126

[email protected] 

About Molten Ventures

 

Molten Ventures is a leading venture capital firm in Europe, developing and investing in high growth technology companies.

 

It invests across four sectors: Enterprise & SaaS; AI, Deeptech & Hardware; Consumer; and Digital Health & Wellness with highly experienced partners constantly looking for new opportunities in each.

 

Listed on the London Stock Exchange and Euronext Dublin, Molten Ventures provides a unique opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since the IPO in June 2016, it has deployed over £1bn capital into fast growing tech companies and has realised over £600m to 30 September 2024.

 

For more information, go to https://investors.moltenventures.com/investor-relations/plc

 

 


Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
ISIN:GB00BY7QYJ50
Category Code:MSCU
TIDM:GROW; GRW
LEI Code:213800IPCR3SAYJWSW10
OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares
3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:378835
EQS News ID:2099730
 
End of AnnouncementEQS News Service

UK Regulatory announcement transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


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