Publigroupe concludes share buyback program
On March 22, 2013, Publigroupe concluded its share buyback program. The company repurchased 167,211 shares through the secondary market, representing 6.67 percent of its share capital.
This accounts for 100 percent of the share buyback target, the company said in a statement on Monday. In December 2012, the Board of Directors announced that a large proportion of the net proceeds from the sale of non-strategic assets, primarily real estate, would be returned to shareholders. To this end, Publigroupe launched a share buyback program of up to CHF 25 million in January 2013. This was completed on March 22, 2013.
At the next Annual General Meeting on April 30 in Lausanne, the Board of Directors will propose a distribution of CHF 10 per share, which corresponds to a total dividend amount of CHF 22 million, the press release continues. The total return to shareholders will amount to CHF 47 million. The Annual General Meeting will also vote on the cancellation of the 167,211 repurchased shares.
