Profil:
Pepco Group NVPepco retailer to launch first stage of share buyback programme of up to EUR 50 mln
Listed retailer Pepco group will initiate the first tranche of the share buyback programme of up to EUR 50 million, intended to commence on or around July 17, 2025, the company said in a market filing.
"The board today announces that it will initiate the first tranche of the share buyback programme of up to EUR 50 million, intended to commence on or around July 17, 2025, due to the board's belief that the current share price materially undervalues the group's future prospects and its intrinsic earnings potential, and in order to further enhance shareholder returns," Pepco announced in the market filing.
The programme will last until September 10, 2025.
The maximum price, excluding expenses, which the company may pay for each share to be acquired, will be an amount equal to 110 percent of the market price of the ordinary shares.
At the Capital Markets Day on March 6, 2025, Pepco's board confirmed the authorisation of a share buyback capability of up to EUR 200 million to be available for use in 2025-2027 financial years.
Pepco is authorised to repurchase up to a maximum of 57,745,193 ordinary shares under the current authorisation of the ordinary general meeting.
The programme will be executed by Santander Bank Polska – Santander Brokerage Poland (Santander Biuro Maklerskie) acting as an intermediary.
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