OREANDA-NEWS. On the basis of resolution adopted by AS PRFoods’s shareholders’ general meeting on 29 May 2014 the volume of the initial share repurchase programme has been fulfilled. AS PRFoods supervisory board proposed to the shareholders’ meeting to be organised on 26 May 2016 that the existing programme be expanded. This would mean that the deadline for share repurchase would be 29 May 2019 and the maximum number or repurchased shares would be 1,000,000 shares, detailed information is available here.

The share repurchase period started on 1 July 2014 and ended on 18 May 2016.

On 30 June 2014 the management board of AS PRFoods entered into a service contract for the repurchase of shares in the name of PRFoods with AS SEB Pank, according to which the Company has the right to repurchase its shares from the stock exchange or outside it with one transaction or part by part until 31 May 2017 and the maximum number of shares to be repurchased was specified to be 500,000. SEB Pank was independent of the Company in performing the programme and making trading decisions, while the bank followed the conditions and restrictions specified in performing the programme.

AS PRFoods acquired altogether 500,000 of its own shares (1.2926% of the share capital) in the period from 1 July 2014 to 18 May 2016 during the share repurchase programme. 300 thousand euros was paid for the shares together with transaction fees. The average repurchase price was 0.5995 euros per share.