Aktieselskabet Schouw & Co. commences an Equity Buyback Plan for 3,579,276 shares, representing 14.04% of its issued share capital, under the authorization approved on April 15, 2020.
January 03, 2022 at 09:55 am EST
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Aktieselskabet Schouw & Co. (CPSE:SCHO) commences share repurchases on December 27, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 15, 2020. As per the mandate, the company is authorized to repurchase 3,579,276 shares, representing 14.04% of its issued share capital and within a total nominal value of 20% of the company's share capital. The consideration for such shares may not deviate by more than 10% from the price quoted on NASDAQ Copenhagen A/S at the time of acquisition. The shares will be repurchased either for treasury or for ownership or as a security. The plan will be valid up to April 1, 2025. As of March 16, 2020, the company had 25,500,000 shares in issue.
On December 21, 2021, the company initiated a Market Repurchase. Under the program, the company will repurchase up to DKK 350 million worth of its own shares. The purpose of the program is to to meet obligations arising from stock-based incentive programs and to reduce the company's share capital. The plan will commence from December 27, 2021, and be valid up to December 30, 2022.
Schouw & Co A/S is a Denmark-based industrial conglomerate. The Company invests in Danish industrial businesses and develops them through value-creating, active and long-term ownership. The Company operates under six sub-groups: BioMar is a manufacturer of feed for industrial fish farming; Fibertex Personal Care is a manufacturer of spunbond nonwovens for the personal care industry; Fibertex Nonwovens is a manufacturer of nonwovens for industrial applications; HydraSpecma is a specialized trading and engineering company, which engages in the trading and producing hydraulic components and systems development for industry; Borg Automotive is an independent remanufacturing company and specializes in sales, production and distribution in the auto aftermarket, and GPV specializes in both electronics and advanced mechanics and is the provider of Electronic Manufacturing Services (EMS) in Denmark. Its portfolio businesses have production sites in over 25 different countries across the world.
Aktieselskabet Schouw & Co. commences an Equity Buyback Plan for 3,579,276 shares, representing 14.04% of its issued share capital, under the authorization approved on April 15, 2020.
AKTIESELSKABET SCHOUW & CO. 
