Franchise Brands PLC Share Purchase Programme (7849D)

TIDMFRAN

RNS Number : 7849D

Franchise Brands PLC

26 June 2023

FRANCHISE BRANDS PLC

("Franchise Brands", the "Group" or "the Company")

Share purchase programme

Franchise Brands plc (AIM: FRAN), an international multi-brand franchise business, announces that it will continue its discretionary programme to buy ordinary shares of 0.5p each in the Company ("Ordinary Shares") for the next six-month period from 1 July 2023 to 31 December 2023, up to an aggregate value of GBP1,500,000 (the "Programme").

The Trustee of the Franchise Brands PLC Employee Benefit Trust (the "EBT") will purchase Ordinary Shares in accordance with the Programme. The Programme seeks to mitigate the dilutive impact of share option awards and to improve overall shareholder return.

During the period 23 December 2023 to 23 June 2023 ("the Period"), the EBT has purchased 18,420 Ordinary Shares at an average price of GBP2.00 pence per share. 10,500 Ordinary Shares held by the EBT have been used to satisfy the exercise of options over Ordinary Shares during the Period. Accordingly, the EBT currently holds 1,782,835 Ordinary Shares (23 December 2022: 1,774,915 Ordinary Shares) which represents 0.92 per cent. (23 December 2022: 1.36 per cent.) of the Company's current issued share capital. The net cash cost to the Company during the period was GBP37,045.

The Trustees of the EBT have entered into arrangements with the Company's joint broker, Dowgate Capital Limited ("Dowgate"), to carry out on-market purchases of Ordinary Shares under the Programme, including on a discretionary basis independent of the Company during any prohibited periods of the Company, as determined by the UK Market Abuse Regulation, which may fall during the period of the Programme.

Enquiries:

 
                                                     + 44 (0) 1625 507 
 Franchise Brands plc                                 910 
 Stephen Hemsley, Executive Chairman 
 Andrew Mallows, Interim Chief Financial Officer 
 Julia Choudhury, Corporate Development Director 
 
 Allenby Capital Limited (Nominated Adviser          +44 (0) 20 3328 
  and Joint Broker)                                   5656 
 Jeremy Porter / George Payne (Corporate Finance) 
  Amrit Nahal (Sales & Corporate Broking) 
 
                                                     +44 (0) 20 3903 
 Dowgate Capital Limited (Joint Broker)               7715 
 James Serjeant / Russell Cook / Nicholas 
  Chambers 
                                                     +44 (0) 20 7710 
 Stifel Nicolaus Europe Limited (Joint Broker)        7699 
 Matthew Blawat / Francis North 
                                                     +44 (0) 20 3128 
 MHP Group (Financial PR)                             8100 
 Katie Hunt / Catherine Chapman                      +44 (0) 7884 494112 
                                                     franchisebrands@mhpgroup.com

About Franchise Brands plc

Franchise Brands is an international, multi-brand franchisor focused on building market-leading businesses primarily via a franchise model. The Group has a combined network of 650 franchisees across seven franchise brands in ten countries covering the UK, North America and Europe.

Franchise Brands' focus is on B2B van-based reactive and planned services. The Company owns several market-leading brands with a long trading history, including Metro Rod, Metro Plumb, Filta and Pirtek in Europe, all of which benefit from the Group's central support services, in particular technology, marketing, management experience and other group resources. At the centre of Franchise Brands' business building strategy is helping its franchisees grow their businesses: "if they grow, we grow".

Franchise Brands employs some 690 people across the Group.

   For further information, visit   www.franchisebrands.co.uk

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June 26, 2023 02:00 ET (06:00 GMT)

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