The Board of Directors of IMS S.A. (“Company”, “Issuer”) informs that today it adopted Resolution No.1 regarding the terms and conditions as well as the procedure to exercise Tranche 5 of the Company Own Shares Buy-back Programme. The resolution constitutes an attachment to this report.
As part of Tranche 5 shares will be acquired through an entity rendering investment services (a brokerage house). In Tranche 5 the Issuer intends to acquire not more than 100,000 shares and allots the sum of PLN 250,000.00 for this acquisition. Tranche 5 shall run from 28 September to 25 October 2018 (including this date) unless the funds allotted for the acquisition in Tranche 5 are completely exhausted earlier.
In line with the decision of the Board of Directors of IMS S.A. made on 17 September 2018, own shares of the Company acquired within Tranche 5 shall be intended for redemption. The Board of Directors will recommend to the coming General Meeting of the Company to redeem the own shares currently held and all other shares bought back by the Company by the end of 2018 under IMS S.A.’s Own Shares Buy-back Programme. The Issuer communicated this in current report ESPI 48/2018 of 17.09.2018.
The 5th Tranche of the Own Shares Buy-back is conducted based on Resolution No.19 of 25 May 2017 in connection with Resolution No.26 of 6 June 2018 of the Annual General Meeting of IMS S.A. and Resolution No.1 of 29 June 2018 of the Board of Directors of IMS S.A.