Oeneo SA announces an Equity Buyback for 2,000,000 shares, representing 3.07% of its issued share capital.
May 11, 2021 at 12:00 pm EDT
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Oeneo SA (ENXTPA:SBT) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares, representing 3.07% of its issued share capital. The purpose of the program is to meet the requirements arising from programs for the allocation of free shares to employees and/or corporate officers of the company and/or of affiliated companies, reduce the share capital by canceling treasury shares and meet the requirements arising from securities granting access to the share capital. The program is valid for 12 months.
Oeneo is the world's No. 1 of cooperage for winemaking and the world's No. 2 of wine corking products. Net sales break down by family of products as follows:
- corking products (70.2%): primarily high-tech cork stoppers for still wines, sparkling wines, and fortified wines, for the Diam and PIETEC lines;
- cooperage (29.8%): casks, barrels, tanks, drums and alternative products (powders, wood chips, and staves) marketed under the Seguin Moreau, Boisé, Tonnellerie Millet, Fine Northern Oak and Galileo brands.
Net sales are distributed geographically as follows: France (28.7%), Europe (39%), America (25.1%), Oceania (1.7%) and other (5,5%).
OENEO 
