FNK.AQSE

Fenikso Limited
Fenikso Limited - Share Buyback Programme
28th October 2024, 07:00
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RNS Number : 7730J
Fenikso Limited
28 October 2024
 

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

28 October 2024

 

Fenikso Limited

 

("Fenikso" or "the Company")

 

Share Buyback Programme

 

Fenikso Limited (AQSE: FNK), the Cayman Islands enterprise company, announces that further to the authorisation granted by shareholders at the Annual General Meeting of the Company held on 14 August 2024 ("AGM"), it is commencing a share buyback programme to buy back up to 49,295,278 ordinary shares (the "Buyback Programme").

 

The Company has engaged Shard Capital Partners LLP to act as its agent in connection with the Buyback Programme. Purchases under the Buyback Programme will be funded out of the Company's distributable reserves, and payable from the Company's cash reserves or from the receipt of funds under the Lekoil & Gas Investments ("LOGI") Loan entered in to on 31 December 2022 as part of the Fenikso restructuring. All ordinary shares repurchased by the Company under this Buyback Programme will be held in treasury by the Company and then subsequently cancelled.

All purchases under the Buyback Programme will be made in accordance with the resolution passed by shareholders at the AGM. A copy of the circular convening AGM, which contains the full text of the resolution, is available on the Company's website https://feniksoplc.com/

The maximum aggregate number of Ordinary Shares authorised to be purchased is 49,295,278, representing approximately 10% of the issued capital of the Company as of 10 July 2024. The Buyback Programme will expire on the conclusion of the next annual general meeting of the Company or at close of business on 30 September 2025.

All purchases under the Buyback Programme will be announced no later than 7:30 a.m. on the business day following the calendar day on which the purchase occurred.

The Directors of Fenikso accept responsibility for this announcement. 

For further information please contact:

Fenikso Limited  


Thomas Richardson, Chairman

info@feniksoplc.com 

First Sentinel Corporate Finance Limited


Brian Stockbridge, Corporate Adviser

+44 7858 888 007

 

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