Touchstar plc

(the "Company", "Touchstar" or the "Group")

Results of AGM

Business Update

Expansion of Share Buyback Programme

The Company announces that at its Annual General Meeting ("AGM") held earlier today all resolutions were duly passed. The results of the proxy voting will be available on the Company's website in due course, www.touchstarplc.com. 

In conjunction with today's AGM of shareholders, Touchstar announces a business update and an extension and expansion of Share Buyback Programme. 

Business Update

·    Trading remains in line with the Board expectations

·    Lynden Jones approved as CEO and director of the company

·   As previously indicated the Company expects financial results for the full year 2025 to be second half weighted.

·    Mark Hardy steps down from the position of CEO and as a director of the Company

·  The next formal update to shareholders is anticipated to be the release of the Company's interim results scheduled for mid - September.

Expansion of Share Buyback Programme

Touchstar plc (AIM: TST), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, is pleased to announce the launch of an extension and expansion initial share buyback programme of ordinary shares of 5 pence each ("Ordinary Shares") now having the ability to repurchase up to £1,000,000 worth of Ordinary Shares (the "Buyback Programme"), effective from today.

The Board considers the Buyback Programme to be in the best interests of all shareholders, given the cash generative nature of the business and the surplus cash the Company holds. It is also consistent with the Board's desire to increase shareholder value/ returns.

As previously reported the Company has appointed its broker, Zeus Capital Limited ("Zeus"), to manage the Buyback Programme to repurchase Ordinary Shares on its behalf and entered into an irrevocable and non-discretionary arrangement on 6 May 2025 with Zeus, to enable Zeus to conduct the Buyback Programme on a broker-managed basis. Zeus will make trading decisions in relation to the Buyback Programme independently of the Company, within certain defined parameters. This will be expanded from the current limit of £100,000 to £1,000,000 of shares to be purchased.

The Buyback Programme commences today and will end on the earlier of the date upon which the aggregate consideration paid for Ordinary Shares reaches £1,000,000 or the date of the Company's next annual general meeting (expected to be in late June 2026) (the "Buyback Period"). During the Buyback Period the Company has no power to invoke any changes to the authority and any purchases will be undertaken by Zeus, acting independently of, and uninfluenced by the Company. It is expected that the Buyback programme will be extended.

Ordinary Share repurchases will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volume. The Buyback Programme is in accordance with the Company's general authority to purchase a maximum of 820,007 Ordinary Shares, granted by its shareholders at the Annual General Meeting held on 24 June 2025, including that the maximum price paid per Ordinary Share will be no more than: a) 105 per cent. of the average trading price of the Ordinary Shares as derived from the middle market quotations for an Ordinary Share on the London Stock Exchange Daily Official List for the five trading days immediately preceding the date on which an Ordinary Share is contracted to be purchased; and b) the higher of the price of the last independent trade and the highest current independent purchase bid for Ordinary Shares on the trading venue where the purchase is carried out.

Under the Buyback Programme, the repurchased shares will either be cancelled or held in treasury at the Company's discretion for later reissue or cancellation. Shares held in treasury are not entitled to dividends and have no voting rights at the Company's general meetings. 

The Buyback Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (each as in force in the UK from time to time, including where relevant pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2019. 

The Company will make further announcements in due course following any share purchases conducted through the Buyback Programme.

Following this announcement, the issued share capital of the Company remains unchanged at 8,475,077 and the Company holds 295,524 shares in treasury. The total voting rights in the Company is 8,179,553, which 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, Touchstar plc under the FCA's Disclosure Guidance and Transparency Rules.

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

For further information, please contact:

Information on Touchstar plc can be seen at: www.touchstarplc.com