29 January 2025
Crystal Amber Fund
Limited
("Crystal Amber Fund", the "Company" or
the "Fund")
Share Buyback
Programme
Crystal Amber Fund announces that it
intends to continue the buyback of Company shares under a share
buyback programme for the period to 24 February 2025. Since 15
December 2023, c.£10 million has been returned to shareholders in
share buybacks and in order to continue this and reduce the
Company's share capital, from now until 24 February 2025 the
Company intends to conduct on-market purchases under the share
buyback programme to repurchase ordinary shares of 1 penny each in
the capital of the Company ("Ordinary Shares") up to an aggregate amount of
£5 million, but no more than 10,167,070 Ordinary Shares, pursuant
to the authority obtained at the Company's annual general meeting
on 13 December 2024 (the "Buyback").
The maximum price which may be
paid by the Company per Ordinary Share shall not be more than the
higher of:
a. 105 per cent of the average of the middle market quotations
for an Ordinary Share as derived from the AIM market of the London
Stock Exchange plc for the five business days immediately preceding
the day on which the purchase is made; and
b. the value of an
Ordinary Share calculated on the basis of the higher of the price
quoted for (i) the last independent trade of and (ii) the highest
current independent bid for the Ordinary Shares.
Due to the relatively low liquidity
in the Ordinary Shares, the Company may purchase Ordinary Shares
pursuant to the Buyback on any trading day materially in excess of
25 per cent of the average daily volume, being the limit prescribed
pursuant to Article 5(1) of the EU Market Abuse Regulation
(2014/596/EU) (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018) ("UK MAR") and accordingly, the Company
may not benefit from that exemption.
There is no guarantee that the
Buyback programme will be implemented in full or that any purchases
will be made. The Company reserves the right to bring a halt
to the Buyback under circumstances that it deems to be appropriate
and in accordance with relevant law and regulation.
The Company will make further
announcements in due course following any share purchases conducted
through the Buyback. Ordinary Shares purchased in the Buyback will
be cancelled in due course.
For further enquiries please
contact:
Crystal Amber
Fund Limited
Chris Waldron (Chairman)
Tel: 01481 742 742
www.crystalamber.com
Allenby
Capital Limited - Nominated Adviser
Jeremy Porter/ Dan Dearden-Williams
Tel: 020 3328 5656
Winterflood
Investment Trusts - Broker
Joe Winkley/Neil Langford
Tel: 020 3100 0160
Crystal Amber
Advisers (UK) LLP - Investment Adviser
Richard Bernstein
Tel: 020 7478 9080
