Conduit Holdings Limited Share Purchase for Variable Incentive Schemes (8617W)
29 12월 2021 - 4:00PM
UK Regulatory
TIDMCRE
RNS Number : 8617W
Conduit Holdings Limited
29 December 2021
Conduit Holdings Limited ("Conduit Holdings" or " the
Company")
Hamilton, Bermuda - 29 December 2021
Share Purchase for Variable Incentive Schemes
Conduit Holdings announces that it intends to conduct on-market
purchases under a share purchase programme to repurchase up to
US$10 million of common shares of US$0.01 each in the capital of
Conduit Holdings (the "Common Shares"), pursuant to the authority
obtained at Conduit Holdings' most recent annual general meeting,
held on 13 May 2021 (the "Purchase").
The purpose of the Purchase is to meet future obligations under
Conduit Holdings' variable incentive schemes. The Purchase will be
funded from Conduit Holdings' existing cash resources and all
Common Shares repurchased will be held in treasury. Repurchases may
be made up to and including the conclusion of the 2022 AGM or at
6.00 p.m. UK time on 31 August 2022, whichever is sooner. Any
repurchases made following Conduit Holdings' 2022 annual general
meeting will be conditional on further shareholders' approval being
obtained.
Conduit Holdings has appointed Panmure Gordon & Co ("Panmure
Gordon") to execute and manage the Purchase and has given an
irrevocable instruction to Panmure Gordon to make market purchases
of Common Shares on its behalf following periodic consultation with
the Company outside of close periods. In accordance with Article
5(1) of Regulation (EU) No 596/2014 Conduit Holdings will not
purchase on any trading day more than a maximum comprising of 25
per cent. of the average daily volume traded in the twenty trading
days preceding the date of this announcement. The Purchase will run
from the date of this announcement to 31 August 2022, unless
terminated earlier. Panmure Gordon will make its trading decisions
in relation to the Common Shares independently of the Group.
Conduit Holdings intends to conduct the Purchase within the
limitations of the shareholder authority granted at Conduit
Holdings' AGM held on 13 May 2021, under which the maximum price
(exclusive of expenses) which may be paid for a Common Share shall
not be more than the higher of: (i) an amount equal to 105 per
cent. of the average middle market quotations for a Common Share,
as derived from the London Stock Exchange Daily Official List, for
the five business days immediately preceding the day on which the
Common Share is purchased; and (ii) an amount equal to the higher
of the price of the last independent trade of a Common Share and
the highest current independent bid for a Common Share as derived
from the London Stock Exchange Trading System and the maximum
number of Common Shares which may be acquired is 16,523,999.
There is no guarantee that the Purchase programme will be
implemented in full or that any repurchases will be made.
As at the time of this announcement, Conduit Holdings' total
issued share capital consists of Common Shares with one voting
right per share. Therefore, the total number of Common Shares
carrying voting rights is 165,239,997.
The above figure of 165,239,997 may be used by shareholders as
the denominator for the calculations by which they will determine
if they are required to notify their interest in, or a change to
their interest in, Conduit Holdings under the FCA's Disclosure
Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018) ("UK MAR").
Trading update
Conduit looks forward to updating Shareholders on 19 January
2022 on the January renewal season and the other material progress
made since the Company's December 2020 IPO.
Media contacts
Haggie Partners - David Haggie, Caroline Klein
+44 (0) 207 562 4444
conduitre@haggie.co.uk
Investor relations and other enquiries:
info@conduitreinsurance.com
About Conduit Re
Conduit Re is the trading name of Conduit Holdings, a pure play
global reinsurance business based in Bermuda. Its main operating
subsidiary Conduit Reinsurance Limited, is licensed by the Bermuda
Monetary Authority as a Class 4 reinsurer. A.M. Best has assigned a
Financial Strength Rating of A- (Excellent) and a Long-Term Issuer
Credit Rating of "a-" to Conduit Reinsurance Limited. The outlook
assigned to these Credit Ratings (ratings) is stable.
Learn more about Conduit Re:
Website: https://conduitreinsurance.com/
LinkedIn: https://www.linkedin.com/company/conduit-re
Twitter: https://twitter.com/Conduit_Re
Neither the content of the Company's website, nor the content on
any website accessible from hyperlinks on its website for any other
website, is incorporated into, or forms part of, this announcement
nor, unless previously published by means of a regulated
information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to
hold, or dispose of, securities in Conduit Holdings.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
POSVVLFLFLLXFBK
(END) Dow Jones Newswires
December 29, 2021 02:00 ET (07:00 GMT)
Conduit (LSE:CRE)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Conduit (LSE:CRE)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024