Completion of £5 million Buyback Programme

Anglo Pacific Group PLC (“Anglo Pacific”, the “Company” or the “Group”) (LSE: APF, TSX: APY), is pleased to announce that following the purchase of ordinary shares on 6 November 2020, the Company’s share buyback programme (“the Programme”), as announced on 25 September 2020 has been completed.

Summary

  • Over the course of the Programme, the Company has acquired in aggregate 4,629,703 ordinary shares of 2 pence each in the Company (“Ordinary Shares”) between 25 September and 6 November for a total consideration of £5 million, at a volume weighted average price of 107.973 pence per share
  • All of the shares that were repurchased under the Programme will be held in treasury
  • The Programme was largely financed by the partial disposal of the Company’s non-core equity holdings, allowing for the Company to retain its ability to finance growth
  • The Company has 181,758,719 ordinary shares of 2 pence each in issue, of which 4,629,703 ordinary shares are now held in treasury. Therefore, the total number of ordinary shares carrying voting rights is 177,129,016
  • All purchases made under the Programme were made on the London Stock Exchange through our broker, Peel Hunt LLP

Julian Treger, Chief Executive Officer of the Company, commented:

“The share buyback programme, which was financed from the partial disposal of the Company’s non-core equity holdings has now been completed and we are pleased to see that this has provided an immediate return to shareholders.

With a strong balance sheet and undrawn borrowing facilities of US$63.6 million (inclusive of the US$30 million accordion) we are well placed and confident in our pipeline and ability to further grow and diversify our portfolio.”

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