Ontex Expands Share Buy-Back Initiative with Treasury Shares
Ontex Enhances Share Buy-Back Program
Ontex, a prominent global developer and producer of essential healthcare products, has officially launched a program aimed at acquiring treasury shares. This strategic initiative aligns with current market trends and illustrates Ontex's commitment to optimizing shareholder value. The decision to repurchase shares can be seen as an affirmation of the company's robust financial health and dedication to long-term investment strategies.
Details of the Share Buy-Back Plan
As per the guidelines established in the Royal Decree of April 29, 2019, Ontex made its announcement on November 25. This program allows the company to purchase a maximum of 1.5 million shares, which constitutes about 1.8% of its issued shares. This well-calculated move will not only enhance shareholder value but also help fulfill Ontex's obligations under current and expected long-term incentive plans.
Recent Purchases of Shares
In the week leading up to December 6, Ontex successfully repurchased 47,500 shares, resulting in a total holding of 1,161,206 treasury shares. This figure now represents approximately 1.41% of the total number of issued shares. Such proactive measures indicate a significant advancement in enhancing shareholder equity and investing back into the company’s growth.
Transaction Details Overview
For a clearer picture of the transactions, the shares were acquired at various price points, contributing to Ontex's treasury stock. Below is an overview of the key transactions that took place:
- Date: December 2, Shares Acquired: 10,000, Average Price: 7.975
- Date: December 3, Shares Acquired: 10,000, Average Price: 7.965
- Date: December 4, Shares Acquired: 7,000, Average Price: 7.917
- Date: December 5, Shares Acquired: 10,000, Average Price: 7.933
- Date: December 6, Shares Acquired: 10,000, Average Price: 8.007
Executing the Buy-Back Program
The execution of this buy-back initiative is being handled by an independent intermediary under a discretionary mandate. This ensures that the decisions regarding share purchases are made objectively, reflecting a responsible approach to financial management. The program is expected to continue throughout a seven-month period leading up to June 30, indicating Ontex’s strategic foresight in managing its financial resources.
Company Overview
Ontex is a renowned player in the healthcare sector, focusing on a wide range of products that cater to babies, women, and adults, primarily for retailers and healthcare providers. With a workforce of approximately 7,200 employees and a presence in 14 countries, Ontex has established itself as a trusted brand in over 100 countries globally. Its headquarters in Aalst, Belgium, serves as the central hub for its operations. Ontex’s commitment to innovation ensures that it remains at the forefront of the industry, continually adapting to meet the needs of consumers and stakeholders alike.
Frequently Asked Questions
What is the purpose of Ontex's share buy-back program?
The share buy-back program aims to enhance shareholder value by reducing the number of shares available on the market, thus increasing the proportionate ownership of existing shareholders.
What percentage of shares does Ontex plan to repurchase?
Ontex plans to repurchase up to 1.5 million shares, representing about 1.8% of its total issued shares.
How will the acquired shares be used by Ontex?
Acquired shares will contribute to fulfilling Ontex's obligations under its long-term incentive plans.
Who is managing the share buy-back program for Ontex?
An independent intermediary is managing the share buy-back program to ensure objective decision-making.
What is Ontex's market presence?
Ontex operates in around 100 countries and is a significant developer and producer in the baby, feminine, and adult care product markets.
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