Aalberts Advances Share Buyback Program with Recent Updates
Overview of Aalberts Share Buyback Program
Aalberts has announced significant progress in its share buyback program, having repurchased a total of 2,500 shares for EUR 78,823.16. This transaction reflects an average share price of EUR 31.53 and is part of the company's larger commitment to enhance shareholder value.
Details of the Share Repurchase
The share buyback program was initially unveiled on February 27, with a total financial commitment of EUR 75 million. Following the commencement on February 28, the buyback actions are set to conclude by October 24. Aiming for greater shareholder equity, the shares repurchased are slated for cancellation.
Cumulative Repurchases
Until July 11, a total of 2,002,324 shares have been successfully repurchased under this program, amounting to a commendable EUR 59,718,534. This initiative underscores Aalberts’ strategy to bolster its market presence and investor confidence.
Execution of the Program
The company has appointed an intermediary to facilitate these share repurchases within the open market, ensuring independence from Aalberts' direct influence during both open and closed trading periods. This allows for a strategic approach to share buyback without market disruption.
Regulatory Compliance
Pursuing this buyback program aligns with the regulations set forth by the Annual General Meeting’s authority dated May 23. The transactions adhere strictly to the guidelines set by the Market Abuse Regulation (EU) 596/2014 along with the safety parameters defined by Commission Delegated Regulation 2016/1052, guaranteeing a transparent and structured buyback operation.
Contacting Aalberts for More Information
For further inquiries or continuous updates regarding the buyback program, you can reach Aalberts at +31 (0)30 3079 302 available from 8:00 am CEST. Additionally, any investor-related questions can be directed to their email contact at investors@aalberts.com.
Frequently Asked Questions
What is the purpose of the share buyback program by Aalberts?
The share buyback program aims to enhance shareholder value by repurchasing shares and ultimately reducing the total number of outstanding shares.
How many shares has Aalberts repurchased so far?
As of July 11, Aalberts has repurchased a total of 2,002,324 shares under their buyback initiative.
When did the share buyback program commence?
The share buyback program started on February 28, following the official announcement in February.
What is the total financial commitment for the buyback?
Aalberts has committed a total of EUR 75 million for the share buyback program.
How can investors stay updated about the program?
Investors can stay informed about the buyback program's progress by contacting Aalberts or visiting their official communication channels.
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