Ontex announces share buy-back program to support long-term incentive plans
The company plans to acquire up to 1.5 million shares, representing 1.8% of its issued shares, over a seven-month period
Ontex Group, an international developer and producer of personal care products, has announced the launch of a share buy-back program. The initiative aims to purchase up to 1.5 million shares, equivalent to 1.8% of its issued shares, over a seven-month period starting on December 1, 2024, and ending on June 30, 2025.
The program’s purpose is to meet the company’s obligations related to its current and future long-term incentive plans. The buy-back will be carried out under the terms and conditions approved at the extraordinary shareholders’ meeting held on May 5, 2023. To ensure impartiality, the purchases will be executed by an independent intermediary, acting autonomously under a discretionary mandate.
Ontex highlighted that the timing of transactions will depend on market conditions, and the program may be suspended or discontinued at any time. Additionally, during the program, the company’s liquidity contract will be suspended.
Currently, Ontex holds 1.2 million treasury shares. Upon completion of the program, this figure is expected to reach 2.7 million shares, representing 3.2% of its total issued shares.
UPDATED INFORMATION ON THE PROGRAM
In compliance with article 8:4 of the Royal Decree of April 29, 2019, which governs the Belgian Code of Companies and Associations, Ontex will provide weekly updates on the progress of its share buy-back program.
During the week ending on December 6, 2024, the company repurchased 47,500 shares, as outlined in its statement. Following these transactions, Ontex now holds 1,161,206 treasury shares, representing 1.41% of its issued shares.
