Completion of Buyback Programme
Updated : 08:47
Serica Energy plc
("Serica" or the "Company")
Completion of Buyback Programme
London, 24 June 2024 - Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, announces that following the purchase of ordinary shares on 21 June 2024, the Company's share buyback programme (the "Programme"), as announced on 24 April 2024, has been completed.
Over the course of the Programme, the Company has acquired in aggregate 8,437,478 ordinary shares of US$0.10 each in the Company (the "Ordinary Shares") between 24 April 2024 and 21 June 2024 for a total consideration of approximately £15 million[1], at a volume weighted average price of approximately 177.78 pence per share.
All purchases made under the Programme were made through the Company's joint broker, Peel Hunt LLP.
The Company has 393,468,408 Ordinary Shares in issue, of which 3,010,773 Ordinary Shares are now held in treasury. Therefore, the total number of Ordinary Shares carrying voting rights is 390,457,635.
Enquiries:
Serica Energy plc | +44 (0)20 7390 0230 |
David Latin (Chairman and Interim CEO) / Martin Copeland (CFO) / Stephen Lambert (VP Legal and External Relations) | |
Peel Hunt (Nomad & Joint Broker) | +44 (0)20 7418 8900 |
Richard Crichton / David McKeown / Emily Bhasin | |
Jefferies (Joint Broker) | +44 (0)20 7029 8000 |
Sam Barnett / Will Soutar | |
Vigo Consulting (PR Advisor) | +44 (0)20 7390 0230 |
Patrick d'Ancona / Finlay Thomson | serica@vigoconsulting.com |
NOTES TO EDITORS
Serica Energy is a British independent oil and gas exploration and production company with a portfolio of UKCS assets.
Serica has a balance of gas and oil production. The Company is responsible for about 5% of the natural gas produced in the UK, a key element in the UK's energy transition.
Serica's producing assets are focused around two main hubs: the Bruce, Keith and Rhum fields in the UK Northern North Sea, which it operates, and a mix of operated and non-operated fields tied back to the Triton FPSO. Serica also has operated interests in the producing Columbus (UK Central North Sea) and Orlando (UK Northern North Sea) fields and a non-operated interest in the producing Erskine field in the UK Central North Sea.
Serica has a two-pronged strategy for growth comprising investment in its existing portfolio and M&A.
Further information on the Company can be found at www.serica-energy.com. The Company's shares are traded on the AIM market of the London Stock Exchange under the ticker SQZ and the Company is a designated foreign issuer on the TSX. To receive Company news releases via email, please subscribe via the Company website.
[1] Total consideration £14,999,999
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