ForFarmers N.V.: ForFarmers decides to start share-buyback programme
December 01 2021 - 1:00AM
ForFarmers N.V.: ForFarmers decides to start share-buyback
programme
Lochem, 1 December
2021
ForFarmers decides to start share-buyback
programme
ForFarmers announces to start a programme to repurchase its own
shares (share-buyback programme, SBB) for a maximum amount of €50
million, amongst others to make the balance sheet more efficient
(share capital reduction). This is in line with the release issued
by the Company on 2 November last, in which it announced to
disclose its plans on an alternative capital allocation, besides
the then also announced intention to distribute a dividend per
ordinary share over 2021, which is comparable to the dividend over
2020. For the SBB programme, ForFarmers will use the
authorisation given by the General Meeting of Shareholders on 23
April 2021 to repurchase at maximum 10% of its own shares and, if
granted, the authorisation of the Annual General Meeting in 2022.
Within the current authorisation 190,000 shares have already been
repurchased for the implementation of employee participation plans
in 2021. The total number of shares in the announced SBB programme
is consequently at maximum 9,331,882. It has been decided, after
ample consideration, to initiate a regular SBB programme. This will
be executed by an independent financial intermediary. The SBB
programme will start on 2 December 2021 and will end on 31 December
2023, or as soon as the SBB programme has been completed.
As of the start of the SBB programme, ForFarmers shall publish a
press release stating the progress of the share buy-back
programme’s execution on the first trading day of each week. This
announcement can be found on www.forfarmersgroup.eu
This press release contains information that qualifies as inside
information in the sense of Article 7 paragraph 1 of the EU Market
Abuse Regulation. Note to the editor / For additional
information:
Caroline Vogelzang, Director Investor Relations T: 0031 573 288
000 M: 0031 6 10 94 91 61E:
caroline.vogelzang@forfarmers.eu
About ForFarmers N.V. ForFarmers N.V. is an
international organisation that provides complete innovative feed
solutions to the livestock farming industry. With its ‘For
the Future of Farming’ mission ForFarmers is committed to
the continuity of farming and to further increasing the
sustainability of the agricultural sector. ForFarmers is the market
leader in Europe with annual sales of around 10 million tonnes of
animal feed. The company is active in the Netherlands, Belgium,
Germany, Poland and the United Kingdom. ForFarmers has
approximately 2,500 employees. In 2020 revenue amounted to
approximately €2.4 billion. ForFarmers N.V. is listed on Euronext
Amsterdam.ForFarmers N.V. is listed on Euronext Amsterdam.
ForFarmers N.V., P.O. Box 91, 7240 AB Lochem, T: +31 (0)573 28
88 00, F: +31 (0)573 28 88 99, info@forfarmers.eu,
www.forfarmersgroup.eu
FORWARD-LOOKING STATEMENTSThis press release
contains forward-looking statements, including those relating to
ForFarmers legal obligations in terms of capital and liquidity
positions in certain specified scenarios. In addition,
forward-looking statements, without limitation, may include such
phrases as “intends to”, "expects“, “takes into account”, "is aimed
at “, ''plans to”, "estimated" and words with a similar meaning.
These statements pertain to or may affect matters in the future,
such as ForFarmers future financial results, business plans and
current strategies. Forward-looking statements are subject to a
number of risks and uncertainties, which may mean that there could
be material differences between actual results and performance and
expected future results or performances that are implicitly or
explicitly included in the forward-looking statements. Factors that
may result in variations on the current expectations or may
contribute to the same include but are not limited to: developments
in legislation, technology, jurisprudence and regulations, share
price fluctuations, legal procedures, investigations by regulatory
bodies, the competitive landscape and general economic conditions.
These and other factors, risks and uncertainties that may affect
any forward-looking statements or the actual results of ForFarmers,
are discussed in the last published annual report. The
forward-looking statements in this press release are only
statements as of the date of this document and ForFarmers accepts
no obligation or responsibility with respect to any changes made to
the forward-looking statements contained in this document,
regardless of whether these pertain to new information, future
events or otherwise, unless ForFarmers is legally obliged to do
so.
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