11 October 2024 - Oxford Metrics plc (LSE: OMG) the smart sensing and software company servicing life sciences, entertainment, engineering and smart manufacturing markets, is pleased to announce a return of up to £6m of cash to its shareholders through the means of an on-market share buyback programme (the “Share Buyback Programme).

Oxford Metrics has entered into a non-discretionary arrangement with Numis Securities Limited, trading as Deutsche Numis, to conduct the Share Buyback Programme on its behalf starting from today. Under these arrangements, Deutsche Numis will make trading decisions in relation to the buyback of the Group's ordinary shares of 0.25 pence each independently of the Group within the programme terms and pre-set parameters.

All ordinary shares repurchased by the Group under the Share Buyback Programme will be cancelled.

Shares purchased under the Share Buyback Programme will take place in open market transactions and may be made from time to time depending on market conditions, share price and trading volumes. The Share Buyback Programme will be effected under the authority granted by shareholders at the Group's 2024 Annual General Meeting to purchase a maximum of 13,142,713 Ordinary Shares. This authority will expire at the conclusion of the next annual general meeting of the Company in 2025, however the Board intend to seek renewal of this power at its 2025 annual general meeting.

The Group has also today announced the acquisition of The Sempre Group Holdings Ltd. The Group’s priority is to continue to invest in the business and deploy the Company’s capital into accretive M&A. Given the Group’s cash balance, the Board believes the Share Buyback Programme will deliver further value for shareholders, while maintaining its ability to pursue future opportunities. A further update on capital allocation will be provided at the Group’s full year results on 3 December 2024.

The Programme will be conducted within the parameters of the Market Abuse Regulation 596/2014/EU as it forms part of UK law by virtue of the European Union (withdrawal) Act 2018, as amended and the delegated regulations made pursuant to it, save that there may be circumstances where the Company conducts share repurchases such that they exceed 25 per cent of the average daily volume in Ordinary Shares for the 20 trading days prior to the share repurchase.

The Group will make further announcements in due course following the completion of any repurchases. There is no guarantee that the Share Buyback Programme will be implemented in full or that any shares will be repurchased by the Group.

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

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