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Zegona Communications plc

06/30/2020 | Press release | Distributed by Public on 06/30/2020 00:11

ZEGONA SHARE BUYBACK PROGRAMME – PROGRESS UPDATE

NOT FOR DISTRIBUTION, PUBLICATION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICAOR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN SPAIN)OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION, PUBLICATION OR RELEASE WOULD BE UNLAWFUL.

ZEGONA COMMUNICATIONS PLC ('Zegona')

LEI: 213800ASI1VZL2ED4S65

30 JUNE 2020

ZEGONA SHARE BUYBACK PROGRAMME - PROGRESS UPDATE

On 24 June 2020 Zegona announced a Buyback1 programme of its Ordinary Shares2 for an aggregate purchase price of up to £10 million. Zegona's Board has set a Buyback Policy3 that allows shares to be acquired at prices up to the Underlying Asset Value Per Share4.

As part of this programme, Barclays Bank plc, on behalf of Zegona, has purchased the following number of Ordinary Shares:

Date of purchase:

29 June 2020

Number of shares purchased:

30,654

Volume weighted average price paid per share:

£1.140000

Lowest price paid per share:

£1.140000

Highest price paid per share:

£1.140000

Zegona intends to cancel these shares.

Detailed information about the individual purchases is available below.

ENQUIRIES

Tavistock (Public Relations adviser)

Tel: +44 (0)20 7920 3150

Lulu Bridges - [email protected]

Jos Simson - [email protected]

Trade details:

Purchase date

Purchase time

Volume

Price

Platform

Transaction reference number

29 JUNE 2020

09:19

30,654

£1.140000

XLON

qu535292c2yt

1. The 'Buyback' is Zegona's on-market share buyback programme for an aggregate purchase price of up to £10 million, announced on 24 June 2020

2. Ordinary shares of £0.01 each in the capital of Zegona ('Ordinary Shares')

3. Zegona's 'Buyback Policy' is that shares may be acquired at prices up to the Underlying Asset Value per Share on the day of purchase, subject also to normal market practice as regards buyback pricing, as set out in the Important Notices section of Zegona's buyback programme announcement dated 24 June 2020

4. The 'Underlying Asset Value per Share' is defined for any day as the value in pounds sterling on the previous trading day of Zegona's investment in Euskaltel (using the €/£ FX rate on that day) and net cash balance divided by the number of Zegona Ordinary Shares in issue

5. These figures should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests, or a change to their interest, in Zegona under the FCA's Disclosure Guidance and Transparency Rules.