Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria announces an Equity Buyback for ARS 1,000 million worth of its shares.
August 30, 2021 at 06:09 pm EDT
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Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria (BASE:MIRG) announces a share repurchase program. Under the program, the company will repurchase up to ARS 1,000 million worth of its common shares such that the treasury shares in the portfolio may not, as a whole, exceed the limit of 10% of the capital stock. The shares will be repurchased at a price of not more than ARS 4,000 for every 10 shares on the Buenos Aires Stock Exchange. The purpose of the program is granting a compensation plan in shares. The program will be funded with realized and liquid profits, optional reserve or other free reserves, according to the Financial Statements for the six-month period ended June 30, 2021. The repurchase program will be valid for a period of 365 days, from the date of publication of the purchase in the media at market. As at May 10, 2019, the company has 2,340,000 shares held in treasury.
Mirgor SACIFIA is an Argentina-based company primarily engaged in the household electronics manufacture. The Company's activities are structured in two business segments: Automotive, which is specialized in the production and distribution of automotive air conditioning systems, gearboxes, heat exchanger units and wheel assemblies, and Home Electronic Appliances, which is involved in the manufacture and commercialization of residential and commercial air conditioning units, microwave ovens, monitor screens, notebooks, sound equipment and cellular phones under Samsung brand name, among others. The Company operates through a number of subsidiaries, such as Industria Austral de Tecnologia SA (IATEC), Interclima SA and Capdo SA. It is controlled by II Tevere SA.
Mirgor Sociedad Anónima, Comercial, Industrial, Financiera, Inmobiliaria y Agropecuaria announces an Equity Buyback for ARS 1,000 million worth of its shares.
MIRGOR SOCIEDAD ANÓNIMA, COMERCIAL, INDUSTRIAL, FINANCIERA, INMOBILIARIA Y AGROPECUARIA 
