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Mercator Medical SAMercator Medical's EGM resolves own share buyback at PLN 100 per share
Listed medical gloves producer Mercator Medical's EGM resolved to buy back its own dividend-paying shares at PLN 100 (EUR 23.3) apiece, the company said in a press release. An additional 352,600 shares previously bought back by the company's subsidiary are to be cancelled.
Shareholders were to decide on the buyback of own shares for cancellation with a value of up to PLN 15 million (EUR 3.49 mln) and a price per share in the range of PLN 75-100 (EUR 17.5-23.3) per unit.
The buy-back is to take place on the basis of a public invitation to sell shares, and any reduction in orders is to be proportional with a fractional number rounded down.
The EGM held on October 14 also decided that Mercator Medical will acquire, at no charge, some 352,600 of its shares repurchased by its subsidiary LeaderMed in 2023. The purpose of this operation is also to redeem treasury shares.
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