ForFarmers buys shares for staff again

ForFarmers started a share buy-back program on Friday 3 May. Over the next 18 months, the animal feed company will buy back €30 million in its own shares to improve its balance sheet. Shares are also bought for own employees.

The group is allocating 1,5 years to purchase the shares, so it does not want to influence the share price too much. The buying moment seems favorable in this period. After ForFarmers presented the first quarterly report of this year, the share price opened almost 10% lower. As a result, it fell below €7 per share. This was double that 1 year ago. ForFarmers announced, among other things, a halving of net profit expected.

Shares for own employees
The buyback program was announced earlier and was approved at the general meeting of shareholders last month. The group starts with the purchase of shares for its staff: the so-called employee participation plans. It is not known how many shares the group is buying for its employees.

The employee participation plan for 2018 included 186.502 shares, which were repurchased at an average price of €11,75. In other words: an investment of more than €2,1 million. The livestock feed company publishes a progress report on the first trading day of each week the corporate website. 

Eric the Thrush

Eric is a member of the editorial staff of Boerenbusiness. As a descendant of an arable family, farmer's blood flows through Eric's veins. He considers himself a generalist, but with a preference for economics, trends, markets and marketing.

e.delijster@boerenbusiness. Nl

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