Share repurchase programme

LEI: 213800U8Q9K2XI3WRE39

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 WHICH IS PART OF UK DOMESTIC LAW PURSUANT TO the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310).

AUCTION TECHNOLOGY GROUP PLC

Share repurchase programme

London, United Kingdom, 4 March 2025 - Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG), operator of world-leading marketplaces for curated online auctions, announces today that it will commence a share repurchase programme of its ordinary shares of 0.01 pence each (the "Ordinary Shares") up to a maximum aggregate consideration of $40 million to be executed during the period from today until the date of the Company's next Annual General Meeting, expected to be held in January 2026 (the "Repurchase Programme").

The Company's capital allocation policy prioritises enhancing growth of the business, both organically and through select inorganic opportunities as they arise, whilst maintaining an appropriate level of liquidity headroom and returning excess capital to shareholders where appropriate (with the final priority being the purpose of the Repurchase Programme).  

ATG will execute the Repurchase Programme in two tranches. In respect of the first tranche, ATG has entered into a discretionary agreement with Numis Securities Limited ("Deutsche Numis") to purchase Ordinary Shares for an aggregate value (excluding expenses) of up to $20 million pursuant to the Repurchase Programme (the "Initial Tranche"). Purchases of Ordinary Shares under the Initial Tranche, if any, will commence today and end no later than the date of the Company's next Annual General Meeting and will be carried out on the London Stock Exchange.

Any purchase of Ordinary Shares undertaken in relation to this announcement will be executed in accordance with (i) the terms and parameters of Deutsche Numis' engagement; (ii) the relevant regulations, including the EU Market Abuse Regulation (596/2014) and the Commission Delegated Regulation (2016/1052), in each case as such legislation forms part of retained EU law (as defined in the EU (Withdrawal) Act 2018), and Chapter 9 of the Financial Conduct Authority's UK Listing Rules and (iii) the Company's general authority to make market purchases of Ordinary Shares as approved by shareholders at the AGM held on 30 January 2025.  In accordance with the general authority passed at the AGM, the maximum price paid per Ordinary Share (exclusive of expenses) will be no more than the higher of: (i) 105 per cent of the average middle market quotations taken from the London Stock Exchange Daily Official List for the five business days preceding any Ordinary Shares being purchased; and (ii) the higher of the price of the last independent trade and the highest independent bid for Ordinary Shares as derived from the London Stock Exchange Trading System. The minimum price (exclusive of expenses) shall be no less than 0.01 pence per Ordinary Share, being the nominal value of an Ordinary Share.

The Company will announce any market repurchase of Ordinary Shares no later than 7.30am on the business day following the calendar day on which the repurchase occurs. Ordinary Shares purchased under the Repurchase Programme will be held in treasury.

The Group confirms that it currently has no unpublished price sensitive information.

Further details on the second tranche of the Repurchase Programme will be announced in due course.

For further information please contact:

About Auction Technology Group plc

Auction Technology Group plc ("ATG") is the operator of world-leading marketplaces for curated online auctions, seamlessly connecting bidders from around the world to around 4,000 trusted auction houses across two major sectors: Industrial & Commercial ("I&C") and Art & Antiques ("A&A").

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting just under 86,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US, Germany and Mexico.