MADRID, 19 Oct. (EUROPA PRESS) -
Grenergy launches this Thursday a program to repurchase its own shares for a maximum amount of 40 million euros with the aim of reducing its share capital through the amortization of its own securities, as reported by the company to the National Securities Market Commission (CNMV). ).
Specifically, the maximum number of shares to be acquired under this program will depend on the average price at which the purchases take place, but will not exceed 3,061,191 shares.
The purpose of this program is also to reward the Grenergy shareholder by increasing the profit per share, all with prior agreement by the general meeting of shareholders and in the terms that it decides.
Regarding the price, Grenergy has detailed that it will not buy shares at a price higher than the highest of the following, specifically, the price of the last independent operation and the highest independent offer at that time in the trading center where the purchase is made.
Regarding the trading volume, Grenergy has stated that it will not buy more than 25% of the average daily volume of the shares in the trading center where the purchase is carried out.
Likewise, the average daily volume of the company's shares for the purposes of the above calculation will be based on the average daily volume traded in the 20 business days prior to the date of each purchase.
The buyback program began this Thursday and will remain in force until December 31, 2024, although the company has detailed that it reserves the right to end it early if, prior to its validity deadline, its purpose had been met and, in particular, if Grenergy had acquired under it the maximum number of shares or securities for an acquisition price that reached the maximum monetary amount, or if any other circumstance arose that advised or required it.
The program will have JB Capital Markets as the main manager. The company has highlighted that, as a consequence of the establishment of the buyback program, it is temporarily suspending the liquidity contract signed by Grenergy with JB Capital Markets.
