Investeko S.A announces an Equity Buyback for 212,500 shares, representing 5% of its issued share capital, for PLN 0.6 million
January 11, 2016 at 12:00 am
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Investeko S.A commences share repurchases on January 11, 2016 under the program mandated by the shareholders in the Ordinary General Meeting held on June 29, 2015. As per the mandate, the company is authorized to repurchase up to 212,500 shares, representing 5% of its issued share capital, for a total of PLN 0.6 million. The shares will be repurchased for the amount not higher than PLN 7 per one share and not lower than PLN 1. The funds for the purchase of own shares will come from the company's own capital. Number of shares purchased by the company on each day will not exceed 25% of the relevant average daily trading volume in shares on the NewConnect within 20 days prior to each date of acquisition. The management has been authorized to take all legal actions connected with the purchase of the treasury shares on conditions and under the mode fixed in the resolution. The share repurchase program will be valid for a period of 60 months, but no longer than to the moment of exhausting of the financial means for repurchase.
ING Securities SA acted as the broker to the company.
Investeko SA is a Poland-based company engaged in the environmental services and equipment industry. It acts as a consulting-design company in the field of environment protection. The Companyâs offer include such services as environmental expertise, providing environmental impact assessment, integrated permitting, water supply and sewage effluent disposal proceedings, waste management documentation, ecological reviews, air emissions documentation, expert opinions, encompassing formal and legal analyses, acoustic expertise, ecological reports for the certification of buildings; eco-outsourcing and training, including constant, formal and legal support, fees for environmental use; reports to National Centre for Emission Balancing and Management; eco-log system, waste management, audit, training; designing; as well as research and measurements.