The board increased the funding to €4.4m to meet the expectations of as many shareholders as possible.
ADVERTISEMENT
Farmer Business Developments plc has announced that 490 shareholders are to receive a total of €4,401,441 under the voluntary share buy-back scheme which was approved by shareholders at the company’s AGM in June. That is an average of €9,000 per shareholder.
Interest in the voluntary buy-back scheme was greater than expected, with 490 applicants offering to sell a total of 3,826,584 ordinary shares at the buy-back price of €1.53 per share. This was 2.9 times the original €2m fund committed to the scheme.
The board increased the funding to €4.4m to meet the expectations of as many shareholders as possible. They agreed to buy 100% of the shares offered by 421 shareholder while 69 applicants who offered in excess of 10,369 shares will be successful up to that level. A total of 75% of the shares offered, totalling 2,876,759, will be bought back. Payments were made on Friday 19 August.
ADVERTISEMENT
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Farmer Business Developments plc has announced that 490 shareholders are to receive a total of €4,401,441 under the voluntary share buy-back scheme which was approved by shareholders at the company’s AGM in June. That is an average of €9,000 per shareholder.
Interest in the voluntary buy-back scheme was greater than expected, with 490 applicants offering to sell a total of 3,826,584 ordinary shares at the buy-back price of €1.53 per share. This was 2.9 times the original €2m fund committed to the scheme.
The board increased the funding to €4.4m to meet the expectations of as many shareholders as possible. They agreed to buy 100% of the shares offered by 421 shareholder while 69 applicants who offered in excess of 10,369 shares will be successful up to that level. A total of 75% of the shares offered, totalling 2,876,759, will be bought back. Payments were made on Friday 19 August.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS