Press releases – Finance
Rentabiliweb: Launch of a share buy-back programme
Published 2011-11-18
The Rentabiliweb Group is today announcing the introduction of a share buy-back programme, with immediate effect. This programme was authorized by the Board of Directors on 9 August 2011 and is in accordance with the company’s statutes. It was registered with the FSMA (financial services authority) on 17 November 2011.
The programme, extending over 18 months, is limited to a maximum of 20% of the company’s share capital. The shares acquired as part of the programme will either be cancelled, or retained and allocated to the most deserving employees.
According to Jean-Baptiste Descroix-Vernier, Chairman and founder of Rentabiliweb: “The Rentabiliweb Group is generating a substantial cash flow and has cash in bank over €16m . Having made the bulk of our investments during the last two years to develop our monetisation division and roll out our loyalty programmes and publishing services, particularly our astrology service, we are in a position to devote a proportion of our resources to buying back our own shares.”
This programme completes the measures already introduced to optimize value creation for shareholders, against a background of crisis in the financial markets. These measures included:
– A tenfold increase in the dividend for 2011, announced last August
– The on-going buy-back of shares by Chairman Descroix-Vernier, amounting to around €420,000 since 2 September 2011.
Retrouvez le communiqué sur le site institutionnel du groupe : http://www.rentabiliweb-group.com/en/?p=5361