Vytrus Biotech, S.A. commences an Equity Buyback Plan under the authorization approved on June 30, 2021.
May 12, 2022
Share
Vytrus Biotech, S.A. (BME:VYT) commences share repurchases on May 13, 2022, under the program mandated by the shareholders in the Ordinary General Meeting and Extraordinary Shareholders Meeting held on June 30, 2021. As per the mandate, the company is authorized to repurchase its own shares.
On May 4, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 50,000 shares, which represent 0.70% of the share capital, for 162.5 million. The purpose of the treasury share repurchase program will be delivery to company directors, to meet the obligations to deliver the company's shares derived from agreement 4.6 of the Ordinary and Extraordinary General Shareholders' Meeting held in session on June 30, 2021, by which the granting of an incentive payable in company shares to certain employees and directors of the Company, subject to conditions of performance and permanence. The repurchase program will begin on May 5, 2022, and will remain in force until May 4, 2023.
Vytrus Biotech SA, formerly Phyture Biotech SL, is Spain-based company principally engaged in the biotechnology industry. The Company develops high added value natural active ingredients on an industrial scale and provides ingredients and recombinant proteins for its use in the cosmetics and pharmaceutical sectors. The Companyâs technology is based on using plant cell cultures to produce bioactive molecules. The Company obtains plant cells, known as Plant Stem Cell technology, which is applicable for cosmetics. Vytrus Biotech specifically target dermo-cosmetics as well as veterinary medicine, functional food and other pharmaceuticals, generating savings of more than 99% in natural resources.