Vidrala, S.A. commences an Equity Buyback Plan under the authorization approved on May 29, 2018.
January 04, 2019 at 07:01 am
Share
Vidrala, S.A. (BME:VID) commences share repurchases on December 28, 2018, under the program mandated by the shareholders in the Ordinary General Meeting held May 29, 2018. As per the mandate, the company is authorized to repurchase its own shares, such that its holding in treasury does not exceed 10% of its share capital. The purchase price would not be lower than the nominal value or 10% greater than the share price at the date of its acquisition or, if derivatives are involved, on the date of the contract which leads to the acquisition. The repurchase program shall be valid for 5 years.
On December 20, 2018, the company initiated a Market Repurchase. Under the program, the company will repurchase up to 192,000 shares for €16 million. The purpose of the program is to reduce the share capital of the company by the redemption of own shares, with the aim of contributing to the shareholders’ remuneration policy through the increase in earnings per share. The program will be valid for 12 months.
Vidrala SA is a Spain-based company principally engaged in the glass industry. The Company operates through two segments: Spain and European Union. The Companyâs activities include the production, distribution and sale of glass bottles and containers used in the food and beverages industries. The Company conducts its own research and development (R&D) operations. It operates production plants and melting furnaces located in such countries, as Portugal, France, Belgium and Italy. The Company owns such subsidiaries as Crisnova Vidrio SA, Inverbeira Sociedad de Promocion de Empresas SA, Gallo Vidro SA, Castellar Vidrio SA, Corsico Vetro SRL, MD Verre SA, Omega Immobiliere et Financiere SA, Investverre SA and CD Verre SA.
VIDRALA, S.A. 
