News & Announcements
Atlantic: Details on Buyback Program
Atlantic: Details on Buyback Program
Atlantic Insurance Company Public Ltd publishes the details of the Buyback Program pursuant to the provisions of the Companies’ Law (Amending) No. 2 of 2000.
- The program will be valid from March 17, 2015 to June 3, 2015.
- The Company may acquire the maximum number of shares provided by the Law.
- The Company will be able to proceed with buyback of own shares from the CSE. The minimum and maximum will not exceed 5% of the average acquisition price of the share in the last five sessions prior to the purchase.
- The shares that might be acquired will have been paid fully.
- The shares can be acquired either by private agreement or from the market.
- The duration of possession must not exceed 2 years.
It is reminded that the Extraordinary General Meeting held on 4/4/2014 approved a special resolution as follows:
“That the Board of Directors be authorized to adopt a buyback program, pursuant to the provisions of the Companies’ Law (Amending) No. 2 of 2000. The shares will be acquired either by private agreement or from the market”.
