Gr. Sarantis S.A. announces an Equity Buyback for 4,222,844 shares, representing 6.04% for ?63.34 million.
December 03, 2021 at 02:35 am EST
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Gr. Sarantis S.A. (ATSE:SAR) commences share repurchases on December 2, 2021, under the program mandated by the shareholders in the Extraordinary Shareholders Meeting held on September 2, 2020. As per the mandate, the company is authorized to repurchase up to 4,222,844 shares representing 6.04% of the company's outstanding shares after excluding treasury shares for a total of ?63.34 million. The maximum buy back price will be at ?15 per share and the minimum is ?0.78 per share. The purpose of the program is to serve the objectives and uses permitted by law from time to time, which today include share capital reduction, settlement of obligations arising by convertible securities or employee stock options as well as the purposes of future acquisition of another company?s shares. The repurchase program will be valid for 24 months, until September 2, 2022.
Sarantis S.A. is one of the world's leading distributors of branded consumer products. Net sales break down by family of products as follows:
- cosmetic products (42.3%): perfumery and toiletry products (Antonio Banderas, BU, C.THRU, Denim, Elode, Myrto, Noxzema, Prosar, STR8, Tesori l'Oriente and Vidal), skin care products (Astrid, Bioten, Elmiplant and Kolastyna), sun screen products (Carroten, Coppertone and Piz Buint) and hair care products (Final Net and Orzene Beer);
- household products (39.8%): food preservation products (Domet, Fino, Fox, Grosik, Hewa, Jan, Korunka Sanitas and Topstar), home maintenance equipment (Afroso, Ava, Flame, Septifos and Tuboflo), insecticides (Globol, Pyrox and Teza), shoe creams (Camel), etc. ;
- other (12.4%): including health care products, dietary supplements, pregnancy tests, etc.
The remaining net sales (5.5%) are from the manufacturing of plastic packaging products (Label Polipak).
At the end of 2020, the group operated a network of nearly 110,000 sales outlets in Europe.
Net sales are distributed geographically as follows: Greece (34.6%), Poland (23.6%), Romania (14%), Ukraine (7.1%), Czech Republic (5.2%), Serbia (5.1%), Bulgaria (3.3%), Hungary (2.6%) and others (4.5%).
SARANTIS S.A. 
