ELIXIRR INTERNATIONAL PLC
("Elixirr", the "Company" or the "Group")
Purchase of Shares by Employee Benefit Trust
Elixirr International plc (AIM:ELIX), an established, global award-winning challenger consultancy, announces that on 5 October 2022 the Elixirr International plc Employee Benefit Trust (the "EBT") purchased in the market (the "Purchase") 166,666 ordinary shares in the capital of the Company ("Ordinary Shares") at an average price of 600 pence per Ordinary Share.
The Purchase has been made at the instruction of Sanne Fiduciary Services Limited as trustee of the EBT following a recommendation by the Board of the Company. The decision to make the Purchase reflects the view that the current market price per Ordinary Share does not reflect the underlying value of the Elixirr Group in light of the Company's strong interim results as announced on 20 September 2022 and its continued prospects.
As set out in the Company's Admission Document, Ordinary Shares held by the EBT are held for the benefit of employees of the Group including to satisfy awards under the Company's employee incentive schemes. Shares held by the EBT can also be sold to persons who become employees of the Elixirr Group in connection with an acquisition. Accordingly, the Purchase will mitigate the need for dilution in the equity of the Company as it executes on its growth strategy.
For further information, please contact:
| Elixirr International plc Stephen Newton, CEO Graham Busby, CFO
Public and Investor Relations contacts: Caroline Pitt
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investor-relations@elixirr.com
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| finnCap Ltd (Nominated Adviser & Sole Broker) Christopher Raggett, Charlie Beeson (Corporate Finance) Alice Lane, Sunila De Silva (ECM)
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+44 (0)20 7220 0500 |
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About Elixirr International plc
Elixirr is an established global award-winning management consultancy, challenging the larger consultancies by delivering innovative and bespoke solutions to a repeat, globally-recognised client base.
Elixirr was founded in 2009, by Stephen Newton, Graham Busby, Ian Ferguson, Andy Curtis and Mark Goodyear, experienced business advisors who identified a market opportunity to provide bespoke, personal services as a 'challenger' to the traditional consultancy businesses in the market. Elixirr guides its clients to overcome challenges such as: future-proofing against technological disruption; development and roll-out of new propositions, products and services; incubating new businesses; navigating a more complex and multinational regulatory environment; and project management and implementation of major change programmes.
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