NETHERLANDS - Feed and meat processor Nutreco has launched a share buy-back programme for 1,400,000 shares valued at approximately €45 million.
The share buy-back programme will be carried out in order to cover future stock dividends and employee stock plans as already announced in the full year results 2013 press release of 6 February 2014.
The share buy-back programme will be carried out in accordance with the mandate given by the Annual General Meeting of shareholders on 27 March 2014.
Within the limits set at that meeting, the maximum price to be paid for the Nutreco shares will be 110% of the average closing price of the last five preceding trading days on the NYSE Euronext Amsterdam stock exchange.
The share buy-back programme will ultimately end on 31 December 2014, unless the maximum number of 1,400,000 shares has been repurchased prior to that date. In that case the programme will end on the date on which this maximum is reached and the early termination will immediately be disclosed.
Nutreco has mandated ABN AMRO to undertake the share buy-back programme. ABN AMRO makes its trading decisions with regard to the number of shares and the timing of the purchases, independently of Nutreco.
TheMeatSite News Desk