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Monday, September 1, 2014
Nutreco completes share buy-back, new program to begin
Nutreco has completed the share buy-back program to cover future stock dividends and employee stock plans, and the share buy-back program of EUR100 million to optimize the efficiency of the balance sheet and enhance future earnings per share will now begin.
The share buy-back program will end on January 31, 2015, unless Nutreco shares for the overall maximum amount of EUR100 million have been repurchased prior to that date. In that case, the program will end on the date on which this maximum is reached.
The EUR100 million is between 4 and 5% of Nutreco's issued share capital. The shares to be repurchased under this share buy-back program will be canceled in due course, resulting in a reduction of Nutreco's outstanding share capital.
The price to be paid for the Nutreco shares will be between the nominal value of the shares and 110% of the average closing price of the last five preceding trading days on the NYSE Euronext Amsterdam stock exchange.