Purchase of the company’s own shares (share buy-back)
The Annual General Meeting held on 19th April 2012 adopted a resolution, which approved the ordinary share acquisition (share buy-back) program with the following parameters:
- The highest number of shares that may be acquired by the Company: 10 per cent of the total number of 322,089,890 of ordinary shares with a nominal value 100 CZK (before reduction), i.e. a maximum of 32,208,989 ordinary shares;
- Allowed acquisition period: 5 years;
- Minimum share price: 150 CZK and maximum share price: 600 CZK;
- the Company may acquire the shares unless it infringes regulations set out by Sec. 161a (1)(b)(c) and (d) of the Commercial Code, as amended.
The Annual General Meeting held on 8th December 2015 adopted a resolution, which granted its consent to the Company to purchase own shares under the following conditions:
- The maximum number of shares that may be acquired by the Company: 31,022,005 ordinary booked shares of the Company, while the nominal value of each share as of the day of adoption of this resolution is CZK 10;
- Allowed acquisition period: 5 years commencing on the day of adoption of this resolution;
- Minimum acquisition share price: CZK 10;
- Maximum acquisition share price: CZK 297;
- Maximum total acquisition price of all shares, which the Company can acquire based on this resolution: CZK 8 billion,
This consent replaced the consent to purchase the Company’s own shares granted by the General Meeting on 19 April 2012.