Start buy-back programme Nutreco shares on 11 February 2011
Nutreco announced that its share buy-back programme for 650,000 shares (approximately EUR 35 million) starts on 11 February 2011. The share buy-back programme will be executed with the purpose to cover future stock dividends and employee stock plans, reports www.megafishnet.com with reference to Nutreco.
Above mentioned share buy-back programme will be executed in accordance with the mandate given by the Annual General Meeting of Shareholders on 1 April 2010. Within the limits set at that meeting, the maximum price to be paid for the Nutreco shares will be 110% of the average closing price of the last five preceding trading days on Euronext Amsterdam by NYSE Euronext.
The share buy-back programme will ultimately terminate on 15 April 2011, unless the maximum number of 650,000 shares has been repurchased prior to such date. In that case the programmes will end on the date on which this maximum is reached and such early termination will immediately be disclosed.
Nutreco has mandated the execution of the share buy-back programme to ABN AMRO Bank N.V., which makes its trading decisions with regard to the number of shares and the timing of the purchases, independently of Nutreco. This means that the share buy-back programme may be continued during closed periods.