Shareholders in Farmacol have approved a share buy-back scheme worth up to PLN 55m (€13.5m). The programme will be launched on 19 July and is to run until 30 June 2015. The shares will be either redeemed or used for investment purposes.
In a statement to the Warsaw Stock Exchange, Farmacol board explained that in its opinion the company’s current share price understated its real value (and was lower than estimates by independent analysts), and that the scheme was in the interests of shareholders who are treating Farmacol as a long-term investment.
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