Viscofan, S.A. commences an Equity Buyback Plan, under the authorization approved on April 27, 2023.
June 18, 2024 at 05:48 pm
Share
Viscofan, S.A. (BME:VIS) commences share repurchases on January 26, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase its own shares. The authorization will be valid for 5 years.
On January 25, 2024, the company initiated a share repurchase program. Under the program, the company will repurchase up to 1,400,000, around 3% of current Company Share Capital for ?76 million. the company will not acquire shares at a price higher than the highest of the following the price of the last independent transaction; or the highest independent offer at that time in the trading venue where the purchase of shares is concluded. The purpose is to reduce the Company's share capital through the redemption of treasury shares. The program will begin on January 26, 2024, and will remain in force until December 31, 2024.
Viscofan SA is a Spain-based company engaged in the packaging industry, mainly for meat products. The Company focuses on the manufacture and distribution of artificial castings, as well as plastic films that are used for separation of sliced food. Its products range includes cellulose, collagen, fibrous and plastic castings. In addition, it designs and produces packing machinery, as well as provides related spare parts. The Company also sells electric power, which is produced by cogeneration systems. The Company operates manufacturing plants and sales offices in Spain, Serbia, Czech Republic, Germany, Brazil, Mexico, Uruguay, China and the United States, among others. It controls a number of subsidiaries, such as Nanopack, Technology and Packaging SL, Naturin Viscofan GmbH and Viscofan Centroamerica Comercial SA.
VISCOFAN, S.A. 
