The Pebble Group PLC Announces Commencement of Share Buyback Programme

MANCHESTER, UK / ACCESSWIRE / May 1, 2024 / The Pebble Group, a leading provider of digital commerce, products and related services to the global promotional products industry, is pleased to announce the commencement of a share buyback programme in the Group's ordinary shares of 1 pence each ("Ordinary Shares"), up to an initial maximum aggregate consideration of £5.0m (the "Share Buyback Programme"). The Group initially announced its intention to undertake the Share Buyback Programme in its Audited Full Year Results 2023, published on 19 March 2024 and it was also noted in its AGM Trading Update on 30 April 2024.

The Board considers that the Group's strong balance sheet provides an opportunity to repurchase its Ordinary Shares at an attractive level whilst returning capital back to shareholders. This initiative reflects both the Board's confidence in the Group's future value, continued focus on capital allocation and enhancing shareholder returns, alongside its continued investment in the Group's strategy. There are no changes expected to the Group's existing dividend policy.

The purpose of the Share Buyback Programme is to reduce the share capital of the Group.

In order to implement the Share Buyback Programme, The Pebble Group has entered into an agreement with its retained corporate broker, Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"), on the following basis:

	Berenberg will manage the purchases on a discretionary basis, purchasing Ordinary Shares on the London Stock Exchange within certain pre-set parameters and making its trading decisions independently of, and uninfluenced by, the Group.
	The Share Buyback Programme will be executed in accordance with the authorities to repurchase Ordinary Shares granted by the Group's shareholders at the Annual General Meeting ("AGM") held on 30 April 2024.
	The Share Buyback Programme will also be conducted in accordance with the safe harbour parameters of the EU Market Abuse Regulation (596/2014) (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) and the AIM Rules.