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1 July 2022
BIOPHARMA CREDIT PLC
(THE "COMPANY")
SHARE BUY-BACK PROGRAMME
BioPharma Credit PLC (LSE: BPCR), the specialist life sciences debt investor, is amending its disclosure policy to include on a regulatory information services (RIS) details of its share buyback powers which it renews annually. It is expected similar announcements will be made every time the share buyback authority is renewed.
The Company announces that it has authority to repurchase up to 205,952,416 ordinary shares of US$0.01 (being its outstanding shareholder authority). Such authority lasts until the next shareholder authority granted, or where expressly revoked by shareholders. The buyback may be funded from the Company's resources (including redemptions on funds the Company has invested in and debt facilities). No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buy-back which would equate to a premium on the net asset value.
The Company has appointed J.P. Morgan Securities plc to act as its broker in respect of the buy-back.
The buy-back will be undertaken pursuant the Company's discount management programme.
This arrangement is in accordance with Chapter 12 of the FCA Listing Rules and the Company's general authority to repurchase shares.
Enquiries:
BioPharma Credit plc
via Link Company Matters Limited
Company Secretary
+44 (0)1392 477 500
Buchanan
David Rydell / Mark Court / Jamie Hooper / Henry Wilson
+44 (0)20 7466 5000
Notes to Editors:
BioPharma Credit PLC is London's only listed specialist investor in debt from the life sciences industry and joined the LSE on 27 March 2017. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks to achieve this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products.
LEI: 213800AV55PYXAS7SY24
On 1 July 2022, BioPharma Credit PLC announced it has authority to repurchase up to 205,952,416 ordinary shares of US$0.01. This authority lasts until the next shareholder authority or revocation, and the Company has appointed J.P. Morgan Securities plc as its broker for the buy-back.
| Date | 1 Jul 2022 |
| Time | 07:00:05 |
| Category | Capital structure |
| ID | 8897Q |