Share Buyback
Authorisation of the Extraordinary Shareholders’ meeting
The Extraordinary Shareholders’ meeting of May 28, 2024 granted an authorisation to the Board of Directors to acquire the Company’s own shares, for a period of five (5) years from the date of publication of the amendment of the related articles of association, up to maximum 10 per cent of the issued shares, at a unit price, which will not be lower than one euro (EUR 1-) and not higher than 10 per cent above the highest closing price of the shares during the last twenty trading days preceding the acquisition in accordance with article 7:215 of the Belgian Code of Companies and Associations.
The full text of the convening notice and the Minutes of the said meeting can be consulted under section “Shareholders’ meetings”.
Decision of the Board of Directors
On July 23, 2024, the Board of Directors approved to proceed with a share buyback program on Euronext Brussels and on the Athens Stock Exchange for a maximum of 120,000 Company’s shares, to be acquired from time to time in one or several transactions, as required, and for a maximum aggregate amount of EUR 1.3 million, to be executed in the next six (6) months. The share buyback program will be implemented in accordance with industry best practices and in compliance with the applicable buyback rules and regulations. To this end, two independent financial intermediaries were appointed to repurchase on the basis of a discretionary mandate. The precise timing of the repurchase of shares pursuant to the program will depend on a variety of factors, including market conditions.
The Company’s current intention is to hold the shares acquired as treasury shares to allow for granting remuneration in shares in accordance with the Company’s approved remuneration policy. The program will be executed under the powers granted at the General Meeting of Shareholders on May 28, 2024, and article 7bis of the Bylaws.