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BRIEF-HMS Hydraulic Machines and Systems Group extends buyback program
June 21, 2017 / 7:25 AM / 6 months ago

BRIEF-HMS Hydraulic Machines and Systems Group extends buyback program

June 21 (Reuters) - HMS HYDRAULIC MACHINES AND SYSTEMS GROUP PLC:

* SAID ON TUESDAY THAT BUYBACK PROGRAM WITH RESPECT TO GLOBAL DEPOSITARY RECEIPTS ON THE CONDITIONS, DETERMINED BY THE BOARD OF DIRECTORS AT THE MEETING HELD ON APRIL 25, HAS BEEN APPROVED BY ITS SHAREHOLDERS AT THE ANNUAL GENERAL MEETING HELD ON JUNE 20

* THE BUYBACK PERIOD WILL BE 1 YEAR FROM JUNE 20, 2017 THROUGH JUNE 20, 2018

* MAXIMUM NUMBER OF GDRS WHICH CAN BE REPURCHASED IS 6 PERCENT OF SUBSCRIBED CAPITAL OF COMPANY, INCLUDING PREVIOUSLY ACQUIRED AND HELD AT TIME GDRS (TREASURY SHARES)

* GDRS WILL BE REPURCHASED AT THE PREVAILING MARKET PRICE AT THE DATE OF SUCH PURCHASE AND MAY NOT EXCEED 5 PERCENT OF AN AVERAGE MARKET PRICE FOR ALL MARKET TRADES WITHIN 5 DAYS PRIOR TO THE ACQUISITION

* PURCHASES WILL BE CARRIED OUT BY THE COMPANY WITH ASSISTANCE OF RENAISSANCE CAPITAL OR ANY OTHER INDEPENDENT BROKER, DETERMINED BY THE BOARD OF DIRECTORS

* BUYBACK PROGRAM WILL END AS SOON AS TOTAL AMOUNT OF ACQUIRED SECURITIES HAS REACHED MAXIMUM AMOUNT SPECIFIED (1,405,961 GDRS) OR, IF EARLIER, ON JUNE 20, 2018

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Further company coverage: (Gdynia Newsroom)

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