Announcements

Job offersmore »





Tweeting Growers

Top 5 - yesterday

Top 5 - last week

Top 5 - last month

Exchange ratesmore »




Belgium: Greenyard buys own shares

Greenyard has once again bought shares. Between June 26 and 30 a total of 53,254 of their own shares were bought. The Belgian company started a purchasing programme for their shares in March. The company will buy a maximum of 1.75 million shares, which equals 4% of outstanding shares. This target has almost been reached, around 3.7% has been bought back since the last purchase.

In the press report on the purchasing programme three possible goals were named. "The company now announces a buy-in program of their own shares that can be used to offset the potential dilution of this convertible bond, to create a position of their own shares to finance potential, future acquisitions and/or potential future long term option plans," according to the press release of March 14.

"The three reasons reported here are the main reasons for purchasing shares," Kris Kippers explains. "The convertible obligation, which dates from the refinancing of 500 million Euro in December 2016 that saves over 15 million Euro per year, provides potential for a dilution of 16% for the shareholders. If Greenyard decides to destroy the purchased shares, this could compensate a quarter of this potential dilution."

Buying back their own shares has a slightly negative effect on the 'free float'. If we look at the last two years we clearly see a strong rise in the free float due to the drop out of Green Valley (7.1%), Gimv (4.9%) and the drop out of the partnership 2D NV, which increased the free float by 1.1%. This means our free float is around 38% at the moment compared to around 27% at the time of the fusion."

More information:
Greenyard NV
Kris Kippers
Strijbroek 10
2860 Sint-Katelijne-Waver / Belgium
T +32 15 32 42 49
M +32 495 28 36 02
Kris.Kippers@greenyard.group
www.greenyard.group

Publication date: 7/10/2017

 


 

Other news in this sector:

1/22/2018 US: Southeastern produce grower completes first year of RPC-partnership
1/22/2018 PlantPaper appoints new Managing Director and CEO
1/22/2018 US (CA): PlantTape names Lance Portman as VP of Engineering
1/22/2018 US: Double Diamond welcomes new VP of Business Development
1/22/2018 "Bayer-Monsanto merger needs Indian approval"
1/22/2018 NL: New player in strawberries under LED
1/22/2018 Canada: BioSafe Systems and Plant Products announce partnership
1/22/2018 “Our job is to ease the pain”
1/19/2018 India: ChemChina finally gets CCI nod for Syngenta
1/19/2018 Spain: Sale of Planasa authorised
1/18/2018 US: Agrinomix is no longer a dealer of Martin Stolze
1/18/2018 Inverca and Deforche Construct sign business collaboration agreement
1/18/2018 Shakti Cocos continues as an independent company
1/18/2018 US: Rescued produce delivered farm to door
1/18/2018 ICL expands technical sales team
1/17/2018 AU: "Getting more from your system, straight from the commissioning stage"
1/17/2018 NL: Vyverberg first consultancy firm to receive HortiQ certificate
1/17/2018 CAN (ON): John Sebele joins A.M.A. as warehouse supervisor
1/17/2018 US: Kemin expands Crop Technologies sales force
1/16/2018 US (GA): Green-Tek announces new location in Baldwin