PRESS RELEASE – Regulated information
Wetteren, 9 October 2023 – 06.25 p.m.
smartphoto group – Euronext Brussels: SMAR
Smartphoto group, the innovative e-commerce group from Wetteren, announces today that the Board of Directors has decided to launch a new share buyback programme with a maximum value of 1 500 000 euro in treasury shares. The period starts on 19 October 2023 and ends on 31 December 2024, or earlier if the target value of treasury shares is acquired.
As provided for in the articles of association of smartphoto group NV, the Extraordinary General Meeting of Shareholders of 11 May 2022 granted the Board of Directors a power of attorney for this purpose, in accordance with article 7:215 of the Belgian Code of Companies and Associations. This authorisation is valid for a period of five years as from the publication of this decision in the annexes to the Belgian Official Gazette.
With this new programme, smartphoto group further aims to use the free cash flow partly to increase the pool of treasury shares as an investment, as well as to finance possible future acquisitions.
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