ForFarmers B.V. will start its depositary receipt buy-back scheme for the benefit of employee participation plans. These repurchases will take place under the following conditions:
- On the 15th of April 2016 authorisation was granted by the General Meeting of Shareholders of ForFarmers (the ‘General Meeting’) to the Executive Board – with the approval of the Supervisory Board – to acquire (other than without consideration) by ForFarmers of (depositary receipts for) shares (regardless of the type) up to a maximum of 10% of the issued share capital of ForFarmers.
- The Supervisory Board has granted the aforementioned approval for the benefit of the execution of employee participation plans. It is expected that the number of depositary receipts to be repurchased shall not exceed 1,000,000 for a maximum amount of € 6.5 million. The repurchase transactions will be executed in accordance with the mandate given on the 15th of April 2016 by the General Meeting.
- The buy-back scheme will start on 18th April 2016. The authorisation granted by the General Meeting is in effect as from the 15th of April 2016 for a duration of 18 months, calculated from the date of the listing on Euronext Amsterdam.
- The buy-back scheme will be executed by a bank, which will purchase the shares on the ForFarmers’ trading platform within the buy-back scheme’s preconditions.
ForFarmers will publish a press release every 7 working days to report on the scheme’s progress.