Garofalo Health Care S.p.A. commences an Equity Buyback Plan, under the authorization approved on April 28, 2023.
Garofalo Health Care S.p.A. (BIT:GHC) commences share repurchases on July 31, 2023, under the program mandated by the shareholders in the Annual General Meeting held April 28, 2023. As per the mandate, the company is authorized to repurchase its own shares up to a maximum number of shares which, taking account of the ordinary shares which may be held in portfolio by the company and by its subsidiary, does not exceed 3% of the share capital of the company. The purchase price per share may not be 10% lower or higher than the share price recorded in the trading session occurred the day before each individual transaction. The purpose of repurchase program is to create a ?share reserve? to service, if needed, the 2021-2023 Performance Share Plan in addition to any other share incentive plans, including of a long-term nature, reserved for Directors and/or managers of the Company or its subsidiaries, to stabilize the share price. The authorization will be valid for a period of 18 months.
On July 13, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to ?7 million worth of shares. As of July 13, 2023, the company had 1,414,510 treasury shares.