Aalberts Increases Share Buyback Amid Positive Market Response
Aalberts Enhances Share Buyback Initiative
Aalberts has made significant strides in its ongoing share buyback program, showcasing its commitment to returning value to shareholders. From April 22 to April 25, the company repurchased 105,706 of its own shares for a total of EUR 2,828,071.84, translating to an average share price of EUR 26.75.
Overview of the Buyback Program
This buyback is part of a larger initiative announced earlier this year, which outlines a total repurchase amount of EUR 75 million. The company began this process on February 28, and it is expected to conclude by October 24. Following the completion of the buyback, the shares are intended to be cancelled, thereby reducing the overall number of outstanding shares and potentially enhancing shareholder value.
Progress Report
As of April 25, Aalberts has successfully bought back a cumulative total of 1,644,209 shares under this program, amounting to EUR 49,225,751. This progress reflects a strong commitment from Aalberts to enhance its capital structure and boost shareholder confidence in the company's future profitability and growth prospects.
Execution and Compliance
Aalberts has appointed an intermediary to manage this share buyback on the open market, ensuring that the process adheres to all necessary regulations. Notably, the buybacks occur during both open and closed trading periods, which helps maintain market integrity.
Regulatory Framework
The execution of the share buyback is conducted under the authority granted by the Annual General Meeting held in May 2024, complying with the Market Abuse Regulation and adhering to the safe harbor parameters established for buyback activities. These regulations are crucial for maintaining transparency and protecting shareholder interests.
Contact Information
For any inquiries regarding the share buyback program or other investment opportunities, shareholders can reach out to Aalberts directly at +31 (0)30 3079 302 during business hours. Additionally, investors can email their queries to investors@aalberts.com for prompt responses.
Frequently Asked Questions
What is the purpose of Aalberts' share buyback program?
The program aims to return value to shareholders and enhance the company's capital structure by reducing the number of outstanding shares.
How many shares has Aalberts repurchased so far?
As of April 25, Aalberts has repurchased a total of 1,644,209 shares under its ongoing buyback program.
What is the total amount allocated for the buyback?
Aalberts has allocated EUR 75 million for its share buyback program, which commenced in February and will run until October.
Who manages the repurchase of shares?
An intermediary has been engaged by Aalberts to conduct the share repurchases in the open market, independent of the company.
When is the buyback program expected to conclude?
The share buyback program is scheduled to conclude no later than October 24 of this year.
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