Matas A/S commences an Equity Buyback Plan under the authorization approved on June 29, 2921.
August 24, 2021 at 04:35 am EDT
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MATAS A/S (CPSE:MATAS) commences share repurchases on August 24, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 29, 2021. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital. The purchase price must not deviate by more than 10% from the price quoted on NASDAQ OMX Copenhagen at the time of purchase. The share repurchase program is valid until the next Annual General Meeting in 2022. As of June 7, 2021, the company had 38,291,492 shares in issue.
On August 24, 2021, the company announced a share buyback program. Under the program, company will repurchase up to 850,000 shares, for DKK 75 million. The program is initiated in order to adjust the company's capital structure and reduce its capital. The repurchase is valid through December 31, 2021.
Matas A/S is a Denmark-based company that operates a chain of personal care retail stores in Denmark and Sweden, as well as operates own online store. Each of the Company's stores offers products diversified into four product segments: Beauty Shop; Vital Shop; Material Shop, and Matas MediCare. The Beauty Shop segment includes cosmetics, fragrances, skincare and hair care products. The Vital Shop segment offers vitamins, minerals and supplements. The Material Shop segment encompasses household and personal care goods including cleaning and maintenance, personal grooming, childcare and sports-related products. The Matas MediCare segment offers over-the-counter medicine and first aid products. The Company's product offering includes both international and Danish health and beauty brands, as well as its own brands like Stripes (principal own brand), Matas Natur and Plaisir.
MATAS A/S 
