The board of directors approves the 8th treasury share purchase program
The seventh share repurchase program expires on June 23, therefore, the Company's board of directors, at its meeting held on June 16, 2023, has approved the eighth treasury shares repurchase program, under the authorization granted by the annual general meeting of shareholders, held today June 10, 2022, in the following terms:
- Purpose of the repurchase program: The cancellation of treasury shares acquired, by reducing the share capital in their nominal amount, as provided in item 2. a) of article 5 of Regulation 596/2014.
- Maximum monetary amount and maximum number of shares: The repurchase program will have a maximum monetary amount of EUR 25 (twenty-five) million. In no case, however, the number of treasury shares to be acquired may exceed 8% of the current share capital of the Company, made up of 96,599,189 shares (equivalent to 7.7 million shares).
- Price and volume conditions: The shares will be purchased at market price in accordance with the price and volume conditions established in the legislation on the matter. In particular, with regard to price, the Company will not acquire shares at a price higher than the highest of the following: (a) the price of the last independent transaction; or (b) the highest independent offer at that time at the trading venue where the purchase is made, even when the shares are traded on different trading venues. Regarding the trading volume, the Company will not acquire more than 25% of the average daily volume of treasury shares at the trading venue where the purchase is made, applying this limit to the entire repurchase program. For these purposes, the average daily volume will be based on the average daily volume traded during the 20 trading days prior to the purchase date.
- Duration: This sixth repurchase program will be in force from June 25, 2023 to December 31, 2024.
Ercros guarantees that the relevant facts contained on this page correspond exactly to those sent by the Company to the CNMV, and disseminated by it to the market. The facts prior to those included in this section are available on the CNMV website.