AmRest Holdings SE commences an Equity Buyback Plan under the authorization approved on May 12, 2022..
July 17, 2023
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AmRest Holdings SE (WSE:EAT) commences share repurchases on July 10, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 12, 2022. As per the mandate, the company is authorized to repurchase its own shares. The minimum price to be paid for the repurchase is nominal value of share and maximum price to be paid for repurchase should not be more than 20% of the listed price at the time of acquisition. The repurchased shares may be traded or redeemed, as well as applied to remuneration schemes, plans or agreements, in effect at any time, by providing shares and stock options to members of the Board of Directors and to management personnel of the Company or its Group, may be allocated in whole or in part to facilitate the fulfilment of these plans or agreements, as well as for the development of program that promote equity participation in the Company, such as dividend reinvestment plans, loyalty bonds or other similar instrument. The program will run for a period of 5 years.
On July 4, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 10% of the share capital for ?6.3 million. The program will commence today and will end no later than July 4, 2024.
Amrest Holdings SE is a Spain-based company active in the restaurants and bars sector. The Companyâs core activity is operating Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks restaurants through its subsidiaries in Poland, the Czech Republic, Hungary, the Russian Federation, Serbia, Croatia, Bulgaria, Spain and France, on the basis of franchises granted, and Applebeeâs in the United States. Additionally, in Spain and France the Company operates its own brands La Tagiatella, Trastevere and il Pastificcio. It also operates PizzaPortal.pl, an online portal for ordering food from various restaurants. The Company operates through subsidiaries, such as AmRest Sp z o o, AmRest sro, AmRest doo, AmRest Adria doo, Blue Horizon Hospitality Group PTE, AmRest TAG SL, SC Marinopoulos Coffee Company III Srl and Marinopoulos Coffee Company Bulgaria EOOD, among others.