In connection with Resolution No. 19 of the Ordinary General Shareholder Meeting of IMS S.A. of 25 May 2017, the Board of Directors of IMS S.A. (“the Company”, “the Issuer”) provides attached the following:
– resolution No. 1 of the Board of Directors of IMS S.A. of 13 February 2018 regarding the adoption and specification of the terms and conditions of the Company Own Share Buy-back Programme;
– resolution No. 2 of the Board of Directors of IMS S.A. of 13 February 2018 regarding the terms and conditions as well as the procedure to exercise Tranche 1 of the Company Own Share Buy-back Programme.
The objective of the Share Buyback Programme is acquisition by the Company of not more than 1,000,000 (say: one million) own shares so as to:
- redeem them, or
- intend them for resale, or
- intended them for another legitimate purpose indicated by the Board of Directors of the Company.
To acquire the above mentioned shares, the Shareholder Meeting of the Company allotted the sum of PLN 2,500,000.00 (say: two million five hundred thousand), including, apart from the shares, also the cost of their acquisition.
The Programme shall run from 13 February 2018 to 31 March 2019; however, no longer than until the funds allotted to acquire the shares are exhausted. The Board of Directors of the Company, acting in the best interest of the Company, after consulting the Supervisory Board of the Company is authorised to:
- cease the acquisition of Shares before 31 March 2019 or before all the funds allotted for their acquisition are exhausted,
- resign from acquiring the Shares in whole or in part.
The Programme shall be carried out in tranches executed in the dates specified above. As part of Tranche 1 shares shall be acquired through an entity rendering investment services (a brokerage house). In Tranche 1 the Issuer intends to acquire not more than 60,000 shares and allots the sum of PLN 150,000.00 for this acquisition. Tranche 1 shall run from 20 February 2018 to 20 March 2018 unless the funds allotted for the acquisition of Tranche 1 are completely exhausted earlier.
Attachments:
– resolution No. 1 of the Board of Directors of IMS S.A. of 13 February 2018 regarding the adoption and specification of the terms and conditions of the Company Own Share Buy-back Programme;
– resolution No. 2 of the Board of Directors of IMS S.A. of 13 February 2018 regarding the terms and conditions as well as the procedure to exercise Tranche 1 of the Company Own Share Buy-back Programme.