Tallinn, Estonia, 2017-04-03 07:00 CEST (GLOBE NEWSWIRE) --
On the basis of resolution adopted by AS PRFoods’s shareholders’ general meeting on 29 May 2014 and 26 May 2016 the volume of the share repurchase programme has been fulfilled.
The share repurchase period started on 1 July 2014 and ended on 27 March 2017.
On 14 June 2016 the management board of AS PRFoods entered into a service contract for the repurchase of shares in the name of PRFoods with AS SEB Pank, according to which the Company has the right to repurchase its shares from the stock exchange or outside it with one transaction or part by part until 29 May 2019 and the maximum number of shares to be repurchased was specified to be 500,000. SEB Pank was independent of the Company in performing the programme and making trading decisions, while the bank followed the conditions and restrictions specified in performing the programme.
AS PRFoods acquired 500,000 of its own shares (1.2926% of the share capital) in the period from 16 June 2016 to 27 March 2017 during the share repurchase programme. 192 thousand euros was paid for the shares together with transaction fees. The average repurchase price was 0.3834 euros per share.
AS PRFoods has acquired altogether 1,000,000 of its own shares (2.5851% of the share capital) in the period from 01 July 2014 to 27 March 2017 during the share repurchase programme. 491 thousand euros was paid for the shares together with transaction fees. The average repurchase price was 0.4915 euros per share.
On the date 27/03/2017 AS SEB Pank purchased in the name and on behalf of AS PRFoods the shares of AS PRFoods as market transactions as follows:
| Date | Amount | Price per Share (eur) | Sum (eur) |
| 27/03/2017 | 2,174 | 0.3970 | 863.08 |
| Total | 2,174 | 0.3970 | 863.08 |
Accumulated total under the share buyback programme since 01/07/2014:
| Amount of shares bought back | Average Price per Share (eur) | Cost in total (eur) |
| 1,000,000 | 0.4908 | 490,776.92 |
The own shares buy-back programme is carried out in accordance with the resolutions of the General Meetings of shareholders of AS PRFoods held on 29/05/2014 and 26/05/2016 and the Commission Regulation (EU) No 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures.
Indrek Kasela
AS PRFoods
Member of the Management Board
Phone: +372 6033 800
investor@prfoods.ee
www.prfoods.ee