REG - Michelmersh Brick - Renewal of Share Buyback Programme

Michelmersh Brick HoldingsAnnouncement

14/04/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250414:nRSN7950Ea&default-theme=true

RNS Number : 7950E  Michelmersh Brick Holdings PLC  14 April 2025

14 April 2025

 

Michelmersh Brick Holdings Plc

 

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

 

Renewal of Share Buyback Programme

 

Michelmersh Brick Holdings Plc (AIM: MBH), the specialist brick manufacturer,
today announces that it intends to re-commence a share buyback programme in
respect of its ordinary shares of 20 pence each ("Ordinary Shares") up to a
maximum consideration of £2.0 million from the date of this announcement
(the "Share Buyback Programme").

 

The purpose of the Share Buyback Programme is to reduce the share capital of
the Group in order to return value to shareholders.

 

Michelmersh has today re-entered into an irrevocable non-discretionary
instruction with Canaccord Genuity Limited ("Canaccord")  in relation to the
purchase by Canaccord, acting as principal during the period commencing on 14
April 2025 and ending no later than 31 December 2025, of Ordinary Shares for
an aggregate consideration (excluding expenses) of no greater than £2.0
million and the simultaneous on-sale of such Ordinary Shares by Canaccord to
Michelmersh, where they will be held in treasury. Canaccord will make its
trading decisions concerning the timing of the purchases of Ordinary Shares
independently of, and uninfluenced by, the Group.

 

The Share Buyback Programme will be conducted within certain pre-set
parameters, and in accordance with the general authorities to repurchase
shares granted by shareholders at the Group's Annual General Meetings, Chapter
12 of the UK Listing Rules and the provisions of the Market Abuse Regulation
596/2014/EU as amended by the Market Abuse (Amendment) (EU Exit) Regulations
2019 ("UK MAR") and the Commission Delegated Regulation 2016/1052/EU as
amended by Technical Standards (Market Abuse Regulation) (EU Exit) Instrument
2019 which both form part of the law of the United Kingdom by virtue of the
European Union (Withdrawal) Act 2018.

 

Michelmersh will announce any market repurchase of Ordinary Shares no later
than 7.30 a.m. on the business day following the calendar day on which the
repurchase occurred.

 

 

 Michelmersh Brick Holdings Plc                Tel: +44 (0)1825 430 412

 Peter Sharp, Chief Executive Officer

 Ryan Mahoney, Chief Financial Officer
 Canaccord Genuity Limited (NOMAD and Broker)  Tel: +44 (0)20 7523 8000

 Max Hartley

 Bobbie Hilliam

 Harry Pardoe
 Yellow Jersey PR

 Charles Goodwin                               Tel: +44 (0)7747 788 221

 Annabelle Willis                              Tel: +44 (0)7775 194 357

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the UK Market Abuse Regulations. Upon
the publication of this announcement, this inside information is now
considered to be in the public domain.

 

About Michelmersh Brick Holdings PLC:

 

Michelmersh Brick Holdings PLC is a business with seven market leading brands:
Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Floren and
Hathern Terra Cotta. These divisions operate within a fully integrated
business combining the manufacture of clay bricks and pavers. The Group also
includes a landfill operator, New Acres Limited, and seeks to develop future
landfill and development opportunities on ancillary land assets.

 

Established in 1997, the Company has grown through acquisition and organic
growth into a profitable and asset rich business, producing over 120 million
clay bricks and pavers per annum. Michelmersh currently owns most of the UK's
premium manufacturing brick brands and is a leading specification brick and
clay paving manufacturer.

 

Michelmersh strives to be a well invested, long term, sustainable,
environmentally responsible business. Opportunity, training and security for
all employees, whilst meeting the needs of stakeholders are at the forefront
of everything we do. We aim to lead the way in producing some of Britain's
premium clay products and enhancing our environment by adding value to the
architectural landscape for generations to come.

 

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

 

Please visit the Group's websites at: www.mbhplc.co.uk
(http://www.mbhplc.co.uk/)  and www.bimbricks.com (http://www.bimbricks.com)

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUOOARVWUSAAR