PRESS RELEASE – Regulated information
Wetteren, June 16, 2022 – 07.15 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 repurchase programme with a maximum value of 1,500,000 euro in treasury shares. The period starts on June 17, 2022 and ends on June 30, 2023, or sooner if the target value of treasury shares is acquired.
As provided for in the articles of association of smartphoto group NV, the General Meeting of Shareholders of May 11, 2022 granted the Board of Directors a power of attorney 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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