Ontex Strategic Share Buyback Initiative
Ontex recently launched a share buyback program aimed at reinforcing its treasury shares, a proactive measure highlighting the company's commitment to enhancing shareholder value. The management considers this strategy essential for fulfilling future obligations related to their long-term incentive plans.
Details of the Share Buyback Program
The share buyback program, which commenced on December 2, 2024, allows Ontex to repurchase up to 1.5 million shares over a period of seven months, concluding on June 30, 2025. This initiative follows the company's authorization from the extraordinary shareholders' meeting held on May 5, 2023. Ontex reported repurchasing a total of 104,589 shares during the week that ended on February 28, 2025, indicating a solid start to the execution of this program.
Weekly Share Repurchase Summary
In accordance with the regulations, Ontex has provided detailed information regarding their recent share repurchase activities. The transactions, conducted on the Euronext Brussels market, accumulated to a total of 1,884,482 treasury shares being held by Ontex, amounting to 2.29% of all issued shares. Here's a brief breakdown of the shares repurchased in the last week of February:
| Date | # shares | Average price (€) | Minimum price (€) | Maximum price (€) | Total value (€) |
|---|---|---|---|---|---|
| 24/02/2025 | 29,500 | 8.327 | 8.280 | 8.370 | 245,650 |
| 25/02/2025 | 6,962 | 8.285 | 8.280 | 8.290 | 57,680 |
| 26/02/2025 | 11,583 | 8.326 | 8.300 | 8.490 | 96,444 |
| 27/02/2025 | 29,065 | 8.434 | 8.370 | 8.480 | 245,124 |
| 28/02/2025 | 27,479 | 8.304 | 8.260 | 8.340 | 228,192 |
Impact on Future Goals
By completing this share buyback program, Ontex aims to raise the percentage of treasury shares from the current 1.35% to an estimated 3.17% of all issued shares. This increase not only reflects the company's financial strength but also demonstrates a forward-thinking approach to managing equity. The repurchased shares are crucial for meeting Ontex's commitments under both existing and upcoming long-term incentive programs.
Execution of the Share Buyback
To ensure the effective management of this buyback initiative, Ontex has appointed an independent intermediary tasked with making decisions independently. This discretionary mandate is crucial to ensure transparency and compliance with market regulations, allowing Ontex to maximize opportunities as they arise.
Contact Information for Inquiries
For further questions regarding this share buyback program, investors and the media can reach out to:
- Geoffroy Raskin - Investors
Phone: +32 53 33 37 30
Email: investor.relations@ontexglobal.com - Catherine Weyne - Media
Phone: +32 53 33 36 22
Email: corporate.communications@ontexglobal.com
Frequently Asked Questions
What is the purpose of Ontex's share buyback program?
The share buyback program aims to enhance shareholder value and fulfill obligations under long-term incentive plans.
How many shares has Ontex repurchased so far?
As of the last week of February, Ontex has repurchased a total of 104,589 shares.
What will be the impact of the shares on treasury stock?
The total treasury shares will increase from 1.35% to an estimated 3.17% of all issued shares after the completion of the buyback.
How long will the buyback program run?
The share buyback program is scheduled to run until June 30, 2025.
Who is managing the buyback program?
An independent intermediary has been appointed to make independent decisions regarding the buyback transactions.
