ForFarmers withdraws almost 6 million treasury shares

ForFarmers announces the cancellation of almost six million shares. The animal feed group bought these shares during the buyback program that was started in 2021 and then ended early in 2022, when working capital was needed to absorb the rapidly rising raw material prices.  

More precisely, it concerns the cancellation of 5.935.004 shares that have been purchased for a total amount of €23.245.424. According to a spokesperson for ForFarmers, this is a logical step that provides clarity for institutional investors. The relevant shares have no influence on the voting ratio or on the number of shares entitled to dividend. After the withdrawal, barely ninety million issued shares remain. 

ForFarmers is currently also running a share buyback program. The purchased shares are used for the remuneration policy for management. Unlike in the past, bonuses are now paid in shares instead of cash. It concerns a maximum of 625.000 shares, for a maximum amount of €3.125.000. In the meantime, slightly less than half of these shares have been acquired.

The share price of ForFarmers has shown a slowly declining trend in recent months and has fallen back to below €2,70 per share.

Wouter Job

Wouter Baan is editor-in-chief of Boerenbusiness. He also focuses on dairy, pig and meat markets. He also follows (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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