GVS S.p.A. commences an Equity Buyback Plan for 20% of its issued share capital, under the authorization approved on April 27, 2021.
October 18, 2021 at 12:40 pm EDT
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GVS S.p.A. (BIT:GVS) commences a share repurchases on October 8, 2021, under the program mandated by the shareholders in the Ordinary General Meeting held on April 27, 2021. As per the mandate, the company is authorized to repurchase its own shares in such a way that the maximum number of shares purchased may not have a total nominal value in excess of 20% of the company?s share capital. The shares will be repurchased at a unit price of not lower than 20% below and not higher than 10% above the reference price that the share will have recorded in the trading session of the day preceding each individual transaction. The purpose of the program is to support market liquidity and efficiency, for holding and subsequent use, including, payment in extraordinary transactions and for the use in service of compensation plans based on financial instruments. The authorization will be valid for a period of 18 months. As of March 19, 2021, the company held no shares in treasury.
On October 7, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to 450,000 shares, representing 0.26% of the share capital, for ?6 million. The program will commence from October 8, 2021 through April 30, 2022.
GVS SpA is an Italy-based manufacturer of filters and components for applications in the healthcare, life sciences, automotive, appliance, safety, commercial and industrial filtration. Its offering includes seven product lines: Healthcare, Laboratory, Mobility, Air Safety, Appliance, Personal Safety and Membranes. Each product line provides a suite of customizable solutions specifically related to each market. Additionally, the Company offers tailormade product and process development services, which cover all the project stages, including product and process design, validation, up to the mass production for large quantities. It is active globally.