Ontex Highlights Recent Share Buyback Initiative
Ontex Launches Strategic Share Buyback Program
In a noteworthy move, Ontex has initiated its program to repurchase treasury shares, signaling a strategic focus on enhancing shareholder value. This initiative aligns with company policies and the guidelines set forth by Belgian corporate law. The announcement, made recently, marks a significant step in Ontex's commitment to manage its capital efficiently.
Details of the Share Repurchase Activities
During the week concluding at a designated time near the end of December, Ontex successfully acquired 5,000 of its own shares from the regulated market of Euronext Brussels. This brings the total number of treasury shares held by Ontex to 1,250,215, which constitutes approximately 1.52% of its total shares issued.
Recent Transactions Breakdown
The details of the recent acquisitions are as follows:
On December 23, Ontex purchased 2,500 shares at an average price of €7.910. The next day, an additional 2,500 shares were bought at a slightly higher average price of €8.030. These transactions illustrate Ontex's commitment to executing its buyback strategy efficiently.
Long-Term Incentive Plan Integration
The shares acquired through this buyback program are intended to meet Ontex’s obligations under its long-term incentive plans. This strategic alignment shows the company's forward-thinking approach to maximizing shareholder interests while also supporting employee incentive schemes.
Program Duration and Oversight
This buyback program, which began in early December, is planned to extend over the course of several months, concluding at the end of June of the following year. It aims to acquire a maximum of 1.5 million shares, capturing about 1.8% of the total share base. An independent intermediary manages the execution of purchases, ensuring decisions are made under a discretionary mandate.
Company Information and Future Outlook
Ontex is a recognized leader in the international development and production of essential care products across various consumer segments. With a footprint that spans approximately 100 countries, the company employs around 7,200 individuals and operates across 14 nations. The company is headquartered in Aalst and strives for innovation in its product line, servicing both retail and healthcare sectors.
Stakeholder Engagement
For inquiries related to investments or media coverage, Ontex encourages stakeholders to reach out directly to their representatives. Investors can contact Geoffroy Raskin at the designated number, while media inquiries can be directed to Catherine Weyne.
Frequently Asked Questions
What is the purpose of Ontex's share buyback program?
The share buyback program is designed to improve shareholder value and support long-term incentive plans for employees.
How many shares is Ontex planning to repurchase?
Ontex plans to repurchase up to 1.5 million shares over the duration of the program.
What percentage of shares do the treasury shares represent?
The treasury shares acquired represent approximately 1.52% of the total shares issued by Ontex.
Who oversees the buyback program?
An independent intermediary oversees the execution of Ontex's buyback program, ensuring it operates under a discretionary mandate.
How can investors contact Ontex for further information?
Investors can contact Geoffroy Raskin for investment inquiries and Catherine Weyne for media-related questions at the provided phone numbers.
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