The mentioned program will include a buyback of maximum 1.64m shares or up to HRK 900m and should end by 18 June 2021.
Adris published a document stating that they are launching a new share buyback program starting on 19 June. The mentioned program will include a buyback of maximum 1.64m shares or up to HRK 900m, while the company is entitled to acquire up to 10% of their share capital.
The share price at which Adris will be concluding the buyback should not exceed or be lower than 10% of the average market price of the previous day. The buyback program should end by 18 June 2021.
We are proud to state that, once again, Adris’ share buyback program will be conducted by InterCapital Securities.
Note that Adris currently owns 105.466 of regular shares, representing 1.09% of shares and 521,184 of preferred shares, representing 7.68% of shares. Combined the company owns 626,630 of treasury shares, which represents 3.82% of their share capital.
It is worth noting that this is a continuation of the buyback program following up a program which started on 16 June 2019 and ended on 19 June 2020.
As a reminder, in February 2019, the company concluded a share buyback program in form of book building worth HRK 58m, which you can read more about here. The mentioned share buyback tender lasted from 15 till 25 February 2019.