Reig Jofre starts the first tranche of the second share buyback program
22 July 2019
The Program will be subject to the provisions of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 by EU Regulation 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards relating to conditions applicable to Temporary Share Buyback Program (the «Regulation») and will have the following characteristics:
- Purpose: Acquisition of shares to comply with the obligations of the Long-term Loyalty Plan for Managers of Reig Jofre
- Maximum number of shares to be acquired by the Program: 160,000 (first tranche of the Loyalty Plan)
- Maximum monetary amount allotted: The shares of this first tranche will be acquired at market price, with a limit of 4.5 euros per share, and as such the maximum monetary amount allocated will be 720,000 euros. If the trading price of the Company’s shares exceeds this price, the Board of Directors may formalize a new agreement on this point
- Duration of the Program: from July 18, 2019 until December 31, 2019, or once all the shares subject to this Program have been acquired. This period may be extended if, on the established date, the Company has not acquired all the shares necessary to cover the first tranche of the Loyalty Plan