EPE Special Opportunities Limited (-EO.P), a closed-ended investment company managed by EPIC Investment Partners LLP, has announced its intention to commence a share buy-back programme of up to £2,000,000 in aggregate purchase price. The programme, which will run until 31 December 2026 at the latest, will be funded entirely from the company's existing cash reserves, with any repurchased ordinary shares held in treasury. Investors are watching the announcement closely as it reflects the board's stated policy to pursue buy-backs and signals active capital management activity ahead of the year end.

Key Points

  • EPE Special Opportunities Limited (-EO.P), a closed-ended special opportunities investment company
  • The company has announced a share buy-back programme with a maximum aggregate purchase price of £2,000,000
  • The programme will conclude by 31 December 2026 or upon reaching the £2 million maximum, whichever comes first
  • Investors should watch for individual repurchase notifications, which the company must release to a Regulatory Information Service without delay following each transaction

EPE Special Opportunities Commits Up to £2 Million to Cash-Funded Ordinary Share Repurchases

EPE Special Opportunities Limited has confirmed it will purchase its own ordinary shares on the open market up to a maximum aggregate purchase price of £2,000,000, subject to availability on what the company describes as attractive terms. The buy-backs will be funded directly from the company's cash reserves rather than any new borrowing or capital raising. All repurchased ordinary shares will be held in treasury following acquisition. The board states that the programme is consistent with the company's existing policy to pursue share buy-backs as a tool for active capital management on behalf of shareholders.

Low Ordinary Share Liquidity Prompts Daily Volume Threshold Exemption for the Programme

The board has acknowledged that the current low level of liquidity in EPE Special Opportunities' issued ordinary shares may constrain the pace at which the buy-back programme can be executed. To address this, the company has agreed that on any given trading day, purchases under the programme may exceed 25 per cent of the average daily trading volume across each trading platform on which its shares are traded. The company also states that it does not expect the buy-backs to fall within the safe-harbour exemption contained in Article 5(1) of the Market Abuse Regulation, meaning additional regulatory flexibility is being relied upon as outlined in the announcement.

Panmure Liberum Appointed to Execute Repurchases on a Discretionary Basis for ESO

The share buy-backs will be carried out on behalf of EPE Special Opportunities by Panmure Liberum Limited, which will manage all purchases on a discretionary basis within pre-set parameters and up to the £2,000,000 maximum. All transactions will be conducted on a regulated trading venue in accordance with Market Abuse Regulation 596/2014 and Commission Delegated Regulation (EU) 2016/1052, both as incorporated into UK domestic law. The person responsible for releasing this information is Amanda Robinson of Langham Hall Fund Management (Jersey) Limited, the company's administrator. Deutsche Numis serves as nominated adviser, with Stuart Skinner named in that capacity.