Miquel y Costas & Miquel, S.A. announces an Equity Buyback for 400,000 shares, representing 1% for ?5.7 million.
November 30, 2023 at 12:49 pm EST
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Miquel y Costas & Miquel, S.A. (BME:MCM) announces a share repurchase program. Under the program, the company will repurchase up to 400,000 shares, representing 1% of its share capital, for ?5.7 million. The purpose of the program is to reduce share capital by redeeming treasury shares in order to contribute to shareholder remuneration policy by increasing earnings per share.
The program will expire on November 30, 2024. As of November 30, 2023, the company had 40,000,000 shares in issue.
Miquel y Costas & Miquel SA is a Spain-based company primarily engaged, through its subsidiaries, in the production of fine and lightweight paper used in the tobacco industry. The Companyâs products are distributed both domestically and abroad, and also include printing, writing, rolling and specialty papers, as well as textile pulps. The Company is a parent of Grupo Miquel y Costas, a group which comprises such companies as SA Paya Miralles, Celulosa de Levante SA, Papeles Anoia SA, Desvi SA, Sociedad Espanola Zig Zag SA, MB Papeles Especiales SA, Miquel y Costas Tecnologias SA, Proyectos Energeticos MB SA and Terranova Papers SA. In addition, it operates the Besos and Pla de la Barquera production plants, which are located in the province of Barcelona, and the Mislata production plant, located in the province of Valencia.
MIQUEL Y COSTAS & MIQUEL, S.A. 
