30th Apr 2009 07:00
Avarae Global Coins Plc
Purchase of own securities
London (AIM: AVR): 30 April 2009 - Avarae Global Coins Plc ("Avarae" or "the Company"), the UK's only publicly traded specialist investment company dedicated to investing in rare and high quality coins, announces that, pursuant to the authority granted to the Company at its EGM on 23 March 2009, it made market purchases for cash of 15,000,000 ordinary shares of 1 pence each ("Ordinary Shares") from Kaupthing Singer & Friedlander Ltd (in Administration) for cancellation representing 14.54% of the issued share capital of the Company on 29 April 2009. The Ordinary Shares were purchased at a price of 5 pence each for an aggregate consideration of £0.75 million.
The transaction is a related party transaction under Rule 13 of the AIM Rules for Companies. The directors consider, having consulted with the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.
Following the purchase, the Company's issued share capital consists of 88,133,334 Ordinary Shares, with one voting right per share.
The total number of voting rights in the Company is therefore 88,133,334.
For further information on Avarae Global Coins Plc, please contact:
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Brian Hatton/Matthew Wood
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+44 (0)16 2461 5614
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Avarae Global Coins Plc
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Adrian Hadden/Stewart Wallace/Lorraine Delannoy
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+44 (0)20 7523 8350
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Collins Stewart Europe Limited
Sarah Scott/Gordon Puckey
Phoenix Financial PR
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+44 (0)20 7947 2857
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Related Shares:
AVR.L