Autohellas S A : Treasury Shares Purchase Program Initiation
May 24, 2024 at 07:12 am EDT
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Kifissia, 24 May 2024
Treasury Shares Purchase Program Initiation
Autohellas Tourist and Trading Société Anonyme (hereinafter referred to as the "Company") announces the following:
The Annual General Meeting of Shareholders held on April 18, 2024, approved the Treasury Shares Purchase Program, through the Athens Stock Exchange, in accordance with the provisions of article 49 of Law 4548/2018 as amended, subject to the following conditions:
1. The company may purchase treasury shares within the next 24 months, i.e. until April 18, 2026.
2. The maximum number of treasury shares to be purchased in the above period shall not exceed 1/10 of the total share capital, i.e. currently 4,862,476 shares, including, in relation to the above limit, the treasury shares already acquired by the Company under a previous treasury share acquisition program.
3. The maximum purchase price of treasury shares under the program is set at EUR 20.00 per share and the minimum purchase price at EUR 1.00 per share.
4. The Board of Directors was authorized to further determine the specific terms and relevant details for the implementation of the above Program.
The Board of Directors on May 22, 2024, pursuant to the above resolution, decided to launch the Treasury Share Program in accordance with the above terms and conditions, for the period from May 24, 2024 to April 18, 2026.
The acquisition of own shares will be made through the member of the Athens Stock Exchange EUROXX SECURITIES S.A.
The final amount that will be allocated and the final number of shares to be acquired under this program, will depend on the current conditions of the Company and the market.
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24 May 2024 and is solely responsible for the information contained therein. Distributed by
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Autohellas specializes in car and light truck rentals. The company also offers import and distribution of new cars, used cars and spare parts. Net sales break down by activity as follows:
- sale of vehicles and spare parts (57.6%);
- car rental (32.2%).
The balance of net sales (10.2%) concerns the international car rental activity.