smartphoto group NV
smartphoto group announces the start of a new share buyback programme
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smartphoto group announces the start of a new share buyback programme
13/05/2024
18:30
PRESS RELEASE – Regulated information Wetteren, 13 May 2024 – 05.45 p.m. smartphoto group - Euronext Brussels: SMAR Smartphoto group, the innovative e-commerce group from Wetteren, announces today that the Board of Directors has decided to launch a new share buyback programme with a maximum value of 1 500 000 euro in treasury shares. The period starts on 14 May 2024 and ends on 31 December 2025, or earlier if the target value of treasury shares is acquired. As foreseen in the articles of association of smartphoto group NV, the Extraordinary General Meeting of Shareholders of 11 May 2022 granted the Board of Directors a power of attorney for this purpose, in accordance with article 7:215 of the Belgian Code of Companies and Associations. This authorisation is valid for a period of five years as from the publication of this decision in the annexes to the Belgian Official Gazette.
With this new programme, smartphoto group further aims to use part of its free cash flow to expand its existing pool of treasury shares as an investment, as well as to fund potential future acquisitions.
For the execution of this new share buyback programme, the Board of Directors of smartphoto group has again granted a discretionary mandate to KBC Securities, which is authorised to buy shares of smartphoto group both by trading on Euronext Brussels as well as outside the regulated market, and this only during open periods. Block trades are also possible within this mandate. During the period of this buyback programme, smartphoto group will regularly inform the market about the purchase transactions of its treasury shares via press releases, in line with the applicable regulations.
Currently, smartphoto group holds a total of 404 655 treasury shares, or 10,27% of the total number of issued shares (3 941 950).
The overview of all transactions relating to the purchase of treasury shares is presented on our website www.smartphotogroup.com under the heading "Investors/Information for shareholders/Purchase of treasury shares".
For additional information
Stef De corte*, CEO
smartphoto group NV
Kwatrechtsteenweg 160
B- 9230 Wetteren
Tel. +32.9.365.99.10
E-mail: [email protected] - Internet: www.smartphotogroup.com
* Fixed representative of Acortis BV
This press release is a free translation of the official Dutch version.
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smartphoto group_Aankondiging nieuw inkoopprogramma eigen aandelen_13 mei 2024_EN.pdf
PDF - 781.53 KB
smartphoto group_Aankondiging nieuw inkoopprogramma eigen aandelen_13 mei 2024_NL.pdf
PDF - 788.37 KB
About smartphoto group Smartphoto group, the innovative e-commerce group, operates in B2C e-commerce under the name smartphotoTM in 12 European countries with affordable, high-quality personalised products such as gifts, cards, photo books, photo calendars, prints and wall decoration (www.smartphoto.be). Additionally, smartphoto group, through naYan which is active in B2B e-commerce, is one of the market leaders in e-commerce distribution. NaYan is a full-service e-commerce agency that, worldwide, helps ambitious brands grow online, with proven expertise in e-commerce, digital marketing, customer experience and sales through marketplaces (www.nayan.be). Through TopFanZ, smartphoto group is also Belgium's market leader in merchandising products and services in the sports and entertainment sector, ranging from product procurement, support in e-commerce activities and logistics, to full-service partnerships, including marketing advice (www.topfanz.com).
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