Program will run for 18 months
ForFarmers BV will launch a share buy-back program, beginning on April 21, 2015, and ending on October 17, 2016.
The company says the share buy-back is being launch to benefit employee participation plans. The maximum number of shares that can be repurchased amounts to 1.5 million based on the current share capital of EUR1 (US$1.08) nominal value per ordinary share, for a maximum of EUR7.5 million (US$8.1 million). The buy-back will be executed by a bank, which will purchase the shares on ForFarmers’ trading platform during open and closed periods and within the buy-back program’s preconditions.
ForFarmers will report on the program’s progress weekly on its website.