Mercator Medical has announced an invitation to submit offers for the sale of up to 623,800 shares at PLN 500 per share, the company said. The shares are purchased for the purpose of their redemption by reducing the share capital. The date of commencement of accepting offers to sell shares is set for June 7, 2021.
The purchase price is PLN 500, the number of shares covered by the invitation is 623,800 (5.9% of the total number of shares). In the extreme case, when all shareholders respond to the invitation with all shares (maximum possible reduction of subscriptions), the company will buy at least one share from the investor. submission of at least 17 shares of the company for purchase, according to the company announcement.
The deadline for accepting share sale offers is set for June 7, 2021. The deadline for accepting share sale offers is July 30, 2021 (until 17.00), and the expected date for the share purchase transaction is August 4, 2021. All shareholders will be treated the same , and the reduction of subscriptions will be proportional (the order in which the responses to the invitation are submitted), was also given
“The dividend purchase price is the lowest possible price from the range of PLN 500-770 adopted by the general meeting. At the current share price (about PLN 250), it ensures that the dividend nature of the purchase is maintained, and at the same time – with a fixed amount of over PLN 312 million for the purchase – it enables participation the widest possible group of investors thanks to the maximum reduction of the guaranteed threshold of participation in the purchase to 17 shares, ie a package currently worth around PLN 4,000,” said Witold Kruszewski, member of the management board for financial affairs.
Shareholders of Mercator Medical in April this year. decided to allocate the net profit for 2020, in the amount of PLN 312.03 million, to reserve capital in order to acquire the company’s own shares and redeem them. At the same time, the shareholders decided to authorize the management board to purchase a maximum of 624,050 treasury shares at a price in the range of PLN 500-770.
The Mercator Medical Group states that it is a leader in Poland and one of the key players in Central and Eastern Europe on the market of disposable medical gloves. It owns a production plant in Thailand. The group operates globally in over 50 countries. In 2013, the company made its debut on the WSE. Its consolidated sales revenues reached PLN 1.83 billion in 2020.
Source: ISBnews and Mercator Medical
