27 June 2023 - 07:02
ForFarmers announces the cancellation of 5,935,004 shares on 27 June 2023. ForFarmers has repurchased these shares for a total amount of €23,245,424 under the share-buyback programme to the amount of at maximum €50 million, which was approved by the General Meeting of Shareholders in 2021. On 15 March 2022, ForFarmers announced that it considered it prudent to temporarily suspend the share-buyback programme, which had started on 2 December 2021. Subsequently, ForFarmers reported in its Third quarter 2022 trading update on 1 November, not to restart the share-buyback programme.
The current share-buyback program for a maximum of 625,000 shares, for a maximum amount of €3,125,000, is still ongoing. This programme started on 18 April 2023 for the purpose of ForFarmers fulfilling its obligations under the (depositary receipts for) share-related incentive schemes and obligations from employee participation plans 2022. The buy-back programme will end no later than December 31, 2023, or when the programme has been completed.
All the conditions for cancellation of the shares have been met. The share capital has been adjusted in the articles of association of ForFarmers, the announcement regarding the intended withdrawal has been made and the declaration of no objection has been received from the Court.
After cancellation of the 5,935,004 shares, ForFarmers will have 89.283.817 issued ordinary shares, of which 89,082,499 outstanding as of today. The cancellation of the shares in question does not affect the voting ratio or the number of shares entitled to dividend.