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ForFarmers suspends share repurchase for the time being
ForFarmers will temporarily stop buying back its own shares. The company announced this in a press release today before trading.
The purchase program will be stopped due to the increasing uncertainty surrounding raw material and gas prices. According to the company, it is therefore 'prudent to temporarily stop the capital allocation to own shares'.
May be resumed at a later time
In the context of the now-suspended program, ForFarmers has already bought back some 23 million of its own shares for more than €5,94 million. Due to the large trading volume in ForFarmers shares in recent months, the company was able to buy back more shares than previously expected. Within the program, a maximum of €50 million or 10% of the company's issued shares may be repurchased.
The Lochem cattle feed group will indicate by means of a press release when the share buy-back program will be resumed. The ForFarmers share was about 10% lower at €00 around 1,5:3,35 AM.
Steve Wissink
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