M.P. Evans Group plc commences an Equity Buyback Plan for 5,321,983 shares, representing 10% of its issued share capital, under the authorization approved on June 14, 2024.
June 20, 2024 at 07:00 am
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M.P. Evans Group plc (AIM:MPE) commences share repurchases on June 19, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 14, 2024. As per the mandate, the company is authorized to repurchase up to 5,321,983 shares, representing 10% of its share capital. The minimum price which may be paid for each ordinary share is 10p and the maximum price which may be paid for each ordinary share shall be equal to the amount 105% of the average middle market quotations of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day of repurchase. The plan will be valid till the next Annual General Meeting of the company or June 30, 2025, whichever is earlier. As of March 19, 2024, the company had 53,219,833 shares in issue.
On June 18, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to £2 million worth of its shares. Repurchased shares will be cancelled. The repurchases will be made through a non- discretionary agreement entered into with the company?s broker. The program will commence from the date of the announcement and will expire on September 14, 2024.
M.P. Evans Group PLC is a United Kingdom-based company, which is a producer of sustainable Indonesian palm oil. The Company's segments are distinguished by location and product: Indonesian oil-palm plantation products in Indonesia and Malaysian property development. The Company's plantations are spread across five Indonesian provinces: North Sumatra, South Sumatra, Aceh, Bangka-Belitung, and East Kalimantan. It owns approximately 51,300 hectares of sustainable oil palm in Indonesia and manages 15,900 hectares on behalf of its scheme smallholders. It also owns six palm-oil mills. The Company's wholly owned subsidiaries include M.P. Evans & Co. Limited, Sungkai Holdings Limited, PT Prima Mitrajaya Mandiri, PT Gunung Pelawan Lestari, PT Bilah Plantindo, PT Evans Lestari, PT Simpang Kiri Plantation Indonesia, and others.
M.P. Evans Group plc commences an Equity Buyback Plan for 5,321,983 shares, representing 10% of its issued share capital, under the authorization approved on June 14, 2024.