ADES INTERNATIONAL HOLDING PLC -
Transaction in Own Shares
19 October 2020
Ades International Holding PLC (the "Company") announces that it has purchased, in accordance with the shareholder authority granted at the Company's EGM on 30th October 2019 and 22nd June 2020, the following number of ordinary shares USD1.00 (DI) each ("Ordinary Shares") in the capital of the Company as part of the buyback programme announced on 29 November 2019:
· Number of ordinary shares purchased: 5,000
· Date of purchase: 16th October 2020
· The average price paid per Ordinary Share was US$8.69 per share.
· The highest price paid per share was US$8.9 and the lowest price paid per share was US$8.6.
· This represents 0.011% of the issued share capital of the Company.
· The broker used was Investec Bank plc.
Following the purchase, the total number of ordinary shares held as treasury shares is 2,502,882
As at the close of business on 16th October 2020, the Company had 43,793,882 ordinary shares (including treasury shares) in issue. Therefore, the total number of voting rights in the Company is 41,291,000 which may be used by shareholders as the denominator for the calculation 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.
In accordance with DTR 5.5.1 the Company announces that following this purchase the percentage of voting rights attributable to the shares the Company holds in treasury is now 5.72 per cent.
All transactions under this programme will be published on the Company's website (investors.adihgroup.com) on a daily basis.
About ADES International Holding (ADES)
ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and North Africa, offering onshore and offshore contract drilling as well as workover and production services. Its c.3,500 employees serve clients including major national oil companies ("NOCs") such as Saudi Aramco and Kuwait Oil Company as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirty-six onshore drilling rigs, thirteen jack-up offshore drilling rigs, a jack-up barge, and a mobile offshore production unit ("MOPU"), which includes a floating storage and offloading unit. For more information, visit investors.adihgroup.com