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Share Purchase and Regulatory Disclosures

7th Jul 2015 07:01

RNS Number : 3173S
Sepura PLC
07 July 2015
 

Sepura PLC

 

("Sepura", the "Group" or the "Company")

 

 

Share Purchase and Regulatory Disclosures

 

 

On 1 May 2015, the Company announced the temporary suspension of its share buy-back programme pending the completion of the acquisition of Teltronic. The Company will be recommencing the repurchase of shares in the near future. Shares repurchased in this way are intended to be held in Treasury and utilised for the satisfaction of employee share awards.

 

As also announced on 1 May 2015, a term of the recent acquisition of Teltronic was that Teltronic management apply a portion of the bonus payments to which they will be entitled from the former owners of Teltronic upon completion towards the subscription or purchase of shares in Sepura. The Company now reports that this term is intended to be satisfied by way of purchase rather than subscription of shares. The aggregate value of such purchases by Teltronic management will be approximately €750,000.

 

Further to the announcement earlier today of the appointment of Richard Smith, the Company notifies, pursuant to Listing Rule 9.6.13(3), that Richard was an executive director of the following holding companies, Oceanbird Limited, Tidefleet Limited, ACIS Global Limited, ACIS Holdings Limited, I2P Limited, when they went into administration in August 2009 as part of the restructuring of ACIS. All these companies have been dissolved. Mr. Smith was also an executive director of Viaonic Technologies Limited, another holding company, when it entered administration in August 2010 under further restructuring of ACIS. The Company confirms that there is no further information required to be disclosed pursuant to the United Kingdom Listing Authority Listing Rule 9.6.13 R.

 

- Ends -

 

For further information please contact:

 

Sepura

Gordon Watling, Chief Executive Officer

Peter Connor, Investor Relations

 

+44 (0) 1223 876000

Bell Pottinger (Financial PR)

Olly Scott

Eve Kirmatzis

 

+44 (0) 20 3772 2500

 

 

Notes to Editors:

Sepura is a leading global provider of critical communications solutions for the PMR market. The Group designs, develops and supplies digital radio solutions, complementary accessories, support tools and devices that are used by a wide range of public safety and commercial organisations.

The Group's strategy is to expand its addressable market, through organic product development and the acquisition of complementary products and technologies. The successful execution of this strategy has transformed the Group from being a UK-focused terminals supplier into a geographically and technologically diverse supplier of complete mission critical communications solutions.

Headquartered in Cambridge, England and employing over 400 staff, Sepura was admitted to the Official List of the London Stock Exchange on 3 August 2007.

www.sepura.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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