Selena FM S.A. commences an Equity Buyback Plan for 3,000,000 shares, representing 13.14% for PLN 75 million, under the authorization approved on May 27, 2021.
May 26, 2021
Share
Selena FM S.A. (WSE:SEL) commences share repurchases on May 27, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2021. As per the mandate, the company is authorized to repurchase up to 3,000,000 shares, representing 13.14% of its issued share capital, for PLN 75 million. The price of the purchased shares may not be less than PLN 11 per share and not more than PLN 25 per share. The repurchased shares may be used for redemption of the Company?s own shares, further resale, exchange for shares in the course of acquisitions or restructuring carried out by the Company, establishing security for the Company?s liabilities, in particular a pledge, registered pledge, financial pledge or transfer of ownership for security purposes or otherwise disposed by the Company?s Management Board as permitted by law, taking into account the needs of the business, with the approval of the Supervisory Board. The program will be funded out of reserve capital created out of profit for 2020. The program is valid until May 27, 2024, but not longer than until the funds allocated for the purchase of own shares are exhausted. As of May 27, 2021, the company had 22,834,000 shares issued and outstanding.
Selena FM SA is a Poland-based company engaged in the construction materials sector. The Company produces, distributes and sales construction chemicals and construction related materials. It offers polyurethane foams, including pistol and mounting foams, as well as foam cleaners; silicon and acrylic sealants, and a range of adhesives among others. Selena FM SAâs products are sold under such brands as Tytan Professional, Tytan Industry, Tytan Euro-line and Artelit, among others. The Company sells its products in Poland and it is also present on the foreign markets in Europe, North America and South America, as well as in Asia. The Company, alongside its numerous subsidiaries located both in Poland and abroad, forms a capital group. As of December 31, 2011, it owned 25 subsidiaries in Poland, Germany, Italy, Spain, the United States, Brazil, Romania, the Czech Republic, Hungary, Finland, Bulgaria, Slovakia, Ukraine, Kazakhstan, China, the Russian Federation and Turkey.
Selena FM S.A. commences an Equity Buyback Plan for 3,000,000 shares, representing 13.14% for PLN 75 million, under the authorization approved on May 27, 2021.
SELENA FM S.A. 