MEXICO CITY, Jan. 6, 2020 /PRNewswire/ -- Grupo LALA, S.A.B. de C.V., ("LALA", or "the Company") (BMV: LALAB), a Mexican Company focused on healthy and nutritious foods, today announced that it has reactivated its share repurchase program to repurchase additional common stock, and given the current conditions it plans to continue actively participating in such operations.
LALA plans to deepen the implementation of its share repurchase operation, so there will be days of a high concentration of repurchase operations in the open market.
The program, which was ratified by Grupo LALA's Ordinary Shareholders Meeting on March 25, 2019, authorizes that the maximum amount used to acquire LALA's shares, including those withheld, over a twelve months period is equal the Company's 2018 Financial Statements net profit balance.
Under the program, the Company may repurchase outstanding shares of its common stock from time to time on the open market or through privately negotiated transactions. LALA's management will determine the timing and amount of shares repurchased, in line with applicable regulations and subject to market conditions.
For more information:
David González Peláez
Elías Rangel
investor.relations@grupolala.com
Tel: +52 55 5814 7124
About LALA
Grupo LALA is a Mexican company focused on healthy and nutritious foods, with more than 65 years of experience in the production, innovation and marketing of milk, dairy products and beverages under the highest quality standards. The Company operates 31 production plants and 172 distribution centers in Mexico, Brazil, United States and Central America, supported by more than 38,000 employees. Grupo LALA's fleet of approximately 7,000 vehicles distributes its more than 600 products to more than 578,000 points of sale. LALA's portfolio is led by its three main brands: LALA®, Nutri Leche® and Vigor®.
This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding the Company's capital allocation strategy and expected capital returns to shareholders, including quarterly dividends and share repurchases, expected revenue growth, investment strategy and cash flow generation, and other financial results and objectives. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: any faltering in global economic conditions or the stability of credit and financial markets, erosion of consumer confidence and declines in customer spending, unavailability of raw materials, services, supplies or manufacturing capacity and changes in geographic, product or customer mix. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission ("SEC"), including the risk factors contained in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.
For more information, visit: www.lala.com.mx
Grupo LALA trades on the Mexican Stock Exchange under the ticker symbol "LALAB"
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SOURCE Grupo LALA, S.A.B. de C.V.
