Virbac Announces Capital Reduction Through Share Buyback Plan

Author: Olivia Taylor Updated: 09-13-2024 12:00 PM

Virbac's Strategic Move to Enhance Shareholder Value

In a noteworthy decision, the Virbac board of directors announced a capital reduction by canceling shares held in treasury. This action signifies the company’s commitment to optimizing its financial structure and enhancing value for its shareholders.

Details of the Capital Reduction

During a recent meeting, the board exercised its authority, granted by a previous shareholders’ meeting, to reduce the share capital by canceling 67,340 treasury shares. These shares were repurchased in 2023 under a share buyback program, demonstrating the company's proactive approach to managing its equity effectively. Following this reduction, the total share capital of Virbac amounts to approximately €10,448,325, represented by 8,390,660 fully paid-up shares.

Impact on Ownership Structure

The outcome of this capital reduction has notable implications for shareholder dynamics within Virbac. Following the cancellation of shares, the Dick family group now controls 50.09% of Virbac's share capital, alongside a significant 66.20% of all voting rights. This consolidation of ownership could influence strategic direction and corporate policies, ensuring aligned interests as the company progresses.

Virbac's Commitment to Animal Health

Virbac has always prioritized animal health at the core of its mission. The company provides innovative solutions for veterinarians, farmers, and pet owners across more than 100 countries. With a diverse product range catering to over 50 animal species, Virbac focuses on diagnosing, preventing, and treating a multitude of health conditions. Their daily commitment is to enhance the quality of life for animals worldwide, collaborating with stakeholders to shape a better future in animal healthcare.

Current Financial Health and Future Prospects

As Virbac positions itself strategically in the market, stakeholders can anticipate continued growth and innovation. The capital reduction aligns with the company's goal of maintaining a robust balance sheet and preparing for future investments that can drive further advancements in animal health solutions.

Contact Information for Inquiries

For media inquiries, interested parties can reach out to Anne Da Silva Passos via email at a.dasilvapassos@libremullenlowe.fr or by phone at +33 7 60 53 99 28. Professional communication lines remain open as Virbac continues to engage with its community.

Frequently Asked Questions

What does the capital reduction entail for Virbac?

The capital reduction involves the cancellation of 67,340 treasury shares to optimize financial structure and enhance shareholder value.

How many shares are currently outstanding after the reduction?

Post-reduction, Virbac has approximately 8,390,660 shares fully paid-up, totaling a share capital of €10,448,325.

Who holds the majority of the voting rights in Virbac?

The Dick family group currently holds 66.20% of Virbac’s voting rights following the capital reduction.

What is Virbac’s primary area of focus?

Virbac specializes in providing innovative health solutions for animals, committed to improving the quality of life for pets and livestock globally.

How can I get in touch with Virbac for media inquiries?

Media representatives can contact Anne Da Silva Passos via email at a.dasilvapassos@libremullenlowe.fr or call +33 7 60 53 99 28.

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