14 December 2021

Nichols plc

(the "Company" or "Group')

Share Buyback

Nichols plc, the diversified soft drinks Group, is pleased to announce that it intends to conduct on-market purchases under a share buyback programme to repurchase up to 453,486 ordinary shares of 10p each in the capital of the Company (the "Ordinary Shares"), representing up to approximately 1.2 per cent of the Company's issued share capital, pursuant to the authority obtained at the Company's most recent annual general meeting, held on 28 April 2021 (the "Buyback").

The purpose of the Buyback is to meet future obligations under the Company's SAYE Option Scheme and/or Long-Term Incentive Plan. The Buyback will be funded from the Company's existing cash resources and all Ordinary Shares repurchased will be held in treasury. Repurchases may be made up to and including 23 August 2022. Any repurchases made following the Company's 2022 annual general meeting will be conditional on further shareholders' approval being obtained.

The Company has appointed Singer Capital Markets Securities Limited ("Singer Capital Markets") to execute and manage the Buyback and has given an irrevocable instruction to Singer Capital Markets to make market purchases of Ordinary Shares on its behalf independently to the Company. In accordance with Article 5(1) of Regulation (EU) No 596/2014 the Company will not purchase on any trading day more than 6,000 Ordinary Shares. The Buyback will run from the date of this announcement to 23 August 2022, unless terminated earlier. Singer Capital Markets will make its trading decisions in relation to the Ordinary Shares independently of the Group. 

The Company intends to conduct the Buyback within the limitations of the shareholder authority granted at the Company's AGM held on 28 April 2021, under which the maximum price which may be paid by the Company per Ordinary Share shall not be more than the higher of 5 per cent above the average middle market quotations for an Ordinary Share (as derived from the London Stock Exchange Daily Official List) for the five business days immediately preceding the date of repurchase, and the higher of the price of the last independent trade and the highest current independent bid for an Ordinary Share. 

There is no guarantee that the Buyback programme will be implemented in full or that any repurchases will be made. 

As at the time of this announcement, the Company's total issued share capital consists of 36,968,772 Ordinary Shares with one voting right per share, of which 39,664 Ordinary Shares are held in treasury. Therefore, the total number of Ordinary shares carrying voting rights is 36,929,108.

The above figure of 36,929,108 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("UK MAR").