Talgo, S.A. commences an Equity Buyback Plan for 3,750,000 shares, representing 3.04% for ?12 million, under the authorization approved on June 29, 2023.
August 14, 2023
Share
Talgo, S.A. (BME:TLGO) commences share repurchases on July 31, 2023, under the program mandated by shareholders in the Annual General Meeting held on June 29, 2023. As per the mandate, the company is authorized to repurchase up to 3,750,000 shares, representing 3.04% of its share capital for ?12 million. The minimum price to be paid for repurchase should be its nominal value and maximum price to be paid for repurchase should be the price that is found on the stock market. The purpose of the program is to reduce company's share capital through the amortization of treasury shares, so as to contribute to the company's shareholder remuneration policy by increasing earning per share. The authorization will be valid for 5 years.
On July 26, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,935,351 shares, representing 2.32% of its share capital for ?10 million. The program will commence from July 31, 2023, and will be valid till April 30, 2024.
Talgo SA is a Spain-based company primary engaged in the design and manufacture of rolling stock. The Company's activities are divided into three business segments: Rolling stock, Auxiliary machines and Others, as well as General. The Rolling stock division is responsible for the train production, as well as for the maintenance of trains that use the Company's technology. The Auxiliary machines and Others segment provides manufacture and technical service of lathes, as well as sale of related spare parts. The General area includes corporate operations. The Company's product range comprises high speed rolling stock, intercity trains and locomotives, among others. It offers products and services worldwide to a number of railway operators, such as Amtrak, Metrovias, Russian Railways, Metro Beijing, Fertagus, Chiltern Railways, Jernhusen AB and Bochum Trams. The Company operates manufacturing plants in Spain and Kazakhstan.
Talgo, S.A. commences an Equity Buyback Plan for 3,750,000 shares, representing 3.04% for ?12 million, under the authorization approved on June 29, 2023.
TALGO, S.A. 
