Groupe Parot SA commences an Equity Buyback Plan for 641,737 shares, representing 10% for €3 million, under the authorization approved on September 18, 2020.
January 15, 2021 at 01:40 am EST
Groupe Parot SA (ENXTPA:ALPAR) commences share repurchases on January 12, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 18, 2020. As per the mandate, the company is authorized to repurchase up to 641,737 shares, representing 10% of its issued share capital, for €3 million. The purchase price per share must not be greater than 300% of the market price on the Euronext Growth Paris market. The repurchased shares will be totally or partially be cancelled with a view to optimizing cash management, return on equity or earnings per share, or may be retained to deliver in payment or in exchange as part of a merger, demerger or contribution. The purpose of the program is to provide liquidity. The program is valid for 18 months from the date of the meeting.