Lochem, 18th April 2016
ForFarmers is launching its depositary receipt buy-back scheme
ForFarmers B.V. will start its depositary receipt buy-back scheme for the benefit of employee participation plans. These repurchases will take place under the following conditions:
- On the 15th of April 2016 authorisation was granted by the General Meeting of Shareholders of ForFarmers (the 'General Meeting') to the Executive Board - with the approval of the Supervisory Board - to acquire (other than without consideration) by ForFarmers (depositary receipts for) shares (regardless of the type) up to a maximum of 10% of the issued share capital of ForFarmers.
- The Supervisory Board has granted the aforementioned approval for the benefit of the execution of employee participation plans. It is expected that the number of depositary receipts to be repurchased shall not exceed 1,000,000 for a maximum amount of € 6.5 million. The repurchase transactions will be executed in accordance with the mandate given on the 15th of April 2016 by the General Meeting.
- The buy-back scheme will start on 18th April 2016. The authorisation granted by the General Meeting is in effect as from the 15th of April 2016 for a duration of 18 months, calculated from the date of the listing on Euronext Amsterdam.
- The buy-back scheme will be executed by a bank, which will purchase the shares on the ForFarmers' trading platform within the buy-back scheme's preconditions.
ForFarmers will publish a press release every 7 working days to report on the scheme's progress.
Note for the editorial staff
For more information: Ria Kneepkens, Communications Department ForFarmers, T: 0031 6 41 51 03 01 E: ria.kneepkens@forfarmers.eu
ForFarmers (Lochem, the Netherlands) is a company that operates internationally and is active in the area of traditional and biological feed solutions for farming. With sales of approximately 9.1 million tonnes of feed per annum ForFarmers is market leader in Europe. Apart from feed for the ruminant, swine, poultry and equine sector ForFarmers supplies products for crop farming and pasture farming. With its products ForFarmers offers customers additional knowledge and advice in the area of feed, farming and business development.
Having regard to its position in the chain ForFarmers wants to be authoritative in sustainable business practices. By producing and delivering feed to customers in an efficient manner, by developing products and concepts that ensure that animals can utilise the feed in a healthier and better way (improvement of feed efficiency) ForFarmers makes a contribution to a commercially profitable and sustainable food production. To this end the company has its own innovation centre that cooperates closely with renowned research institutes and universities.
In 2015 the turnover arrived at € 2.2 billion. ForFarmers has 2,370 employees and production establishments in the Netherlands, Belgium, Germany and the United Kingdom.
At the end of 2015 Coöperatie FromFarmers U.A. held 61.0% of the control in ForFarmers B.V. and combined with the depositary receipts for shares of the members 68.2% of the control. Coöperatie FromFarmers U.A. is a cooperative with 6,248 members established in Lochem. The activities consist of, among other things, the administration of its participation in ForFarmers B.V.
ForFarmers B.V., PO Box 91, 7240 AB Lochem, T: +31 (0)573 28 88 00, F: +31 (0)573 28 88 99, info@forfarmersgroup.eu, www.forfarmersgroup.eu, info@fromfarmers.eu, www.fromfarmers.eu.