Ymagis Group Launches Share Repurchase Program
Ymagis Group (FR0011471291, MAGIS, PEA-PME, TECH 40), the European specialist in digital technologies for the cinema industry, today announced that it has mandated Oddo Bhf for the reacquisition by the Group of its own shares.
At the end of this mandate, Ymagis aims to repurchase its own shares depending on the market conditions, up to a maximum of €3,162,750. This operation is pursuant to the authority granted by the Shareholders' Annual General Meeting on 30th June 2017.
This mandate signed on 31st May 2018 concerns a maximum of 421,700 Ymagis shares, representing approximately 5.3% of the share capital at an average price not exceeding the limits set under the twelfth resolution of the Shareholders' Annual General Meeting on 30th June 2017. The shares may be repurchased under this mandate between 1st June 2018 and 29th June 2018 at the latest.
The acquisition of these shares is intended to cover future stock option plans and/or free share allocation plans for employees as well as to be kept for subsequent exchange or payment as part of potential external growth operations.
“To cover loyalty programs for our key managers or for any strategic operations, given the current price level, it is in the Group’s interest to repurchase its own shares on the market. This share repurchase program reflects the Group’s confidence in its ability to implement its Perform Plan strategy and ensure its future development. It also contributes to generating value for Ymagis shareholders,” concludes Jean Mizrahi, Founder and Chief Executive Officer of the Ymagis Group.