3 May 2019 - 07:06
On 26 April 2019, the Annual General Meeting of Shareholders authorised ForFarmers N.V. (‘ForFarmers’) to initiate a programme to repurchase its own shares (‘share buy-back programme’). In accordance herewith, ForFarmers today initiates its share buy-back programme.
ForFarmers will repurchase its own shares for a period of 18 months for an amount of €30 million in order to make its balance sheet more efficient. In addition, ForFarmers will repurchase its own shares for the implementation of employee participation plans in 2019 (for comparison purposes: the 2018 employee participation plan involved 186,502 shares that were repurchased at an average price of €11.75).
On the first trading day of each week, ForFarmers shall publish a press release stating the progress of the share buy-back programme’s execution. This announcement can be found on www.forfarmersgroup.eu
The repurchased shares will first be used for the implementation of the employee participation plans and subsequently own shares will be repurchased for the share buy-back programme of €30 million to make the balance sheet more efficient. As soon as the share buy-back for the employee participation plans is finished, this will be announced in the weekly press release.
This press release contains information that qualifies as inside information in the sense of Article 7 paragraph 1 of the EU Market Abuse Regulation.