The pharmaceutical company has the objective of acquiring representative shares of up to 1% of its share capital.

The pharmaceutical company has the objective of acquiring representative shares of up to 1% of its share capital.

The pharmaceutical company has the objective of acquiring representative shares of up to 1% of its share capital.

Sign in a Rovi facility.

Rovi Laboratories announced this Tuesday a new plan of repurchase of own shares endowed with a budget of up to 46 million euros. This program comes as a continuation of the one that the pharmaceutical company had announced on November 3 and that it has decided to end early.

The old program ends after the acquisition of 1.49 million treasury shares has been completed. A package representing 89% of the maximum number foreseen at its origin. In this sense, Rovi “concludes it successfully”, as indicated in a communication sent to the National Securities Market Commission (CNMV).

According to this communication, the new Rovi program has the same objectives as its predecessor: redemption of own shares and contribute to the remuneration of its shareholders as a result of the increase in earnings per share. The acquisitions will begin this February 23 and will last for a period of six months.

1% of the capital

Beyond the economic endowment that has been foreseen for these purchases, a limit of 560,700 Rovi shares has been established, representing “approximately” 1% of the share capital the pharmaceutical. A volume that could be reduced if, during its validity, “acquisitions of own shares are carried out in the block market or outside the market for the same purpose”.

The program will be subject to the usual conditions of maximum volumes and prices so as not to influence the evolution of the share price, as explained by the listed company. In addition, she has explained that the Bestinver securities company will be in charge of it as the main manager.

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