Soho Development S.A. announces an Equity Buyback for 7,957,000 shares, for PLN 250 million.
December 21, 2017
Share
Soho Development S.A. (WSE:SHD) commences share repurchases on December 22 ,2017 under the program mandated by the shareholders in the Annual General Meeting held on June 22, 2017. As per the mandate, the company is authorized to repurchase up to 7,300,000 shares for PLN 250 million. The offer price per share will be PLN 3.27 per share. The shares will be purchased for the purpose of their redemption by way of a decrease in the share capital of the company. The authorization to acquire own shares shall be in force until December 31, 2018 or until funds allocated for the purchase of shares have been exhausted.
On December 12, 2017, the company initiated a share repurchase program. Under the program, the company will repurchase up to 30,129,870 shares at a price of PLN 3.27 per share. As of December 12, 2017, the company holds no own shares.
On December 22, 2017, the company concluded its share repurchase program. Under the program, the company repurchased 30,129,870 shares, representing 32.99% of the share capital of the company for a total of PLN 98.52 million.
Soho Development SA, previously Black Lion Fund SA, is a Poland-based investment company active in private equity and venture capital sector. The Company invests primarily in companies from real estate, medical, and publishing sectors. At the same time, together with the National Capital Fund, it set up a separate entity for investment in innovative companies that are in the early stages of development. The primary objective of the Company is capital investment and support for the period from three to five years, made in the projects of mid-size development, consolidation and restructuring range. The subject of Fundâs activity are also acquisition of the securities issued by the National Treasure, stocks or other securities issued by the registered entities and acting in Poland, as well as execution of the rights to shares, options of stocks and other securities. On November 20, 2012, the Company acquired a 100% stake in Recycling Park Sp. z o.o.
SOHO DEVELOPMENT S.A. 
