Post a Comment Print Share on Facebook
Featured Rusia Feijóo CGPJ Alemania Vladimir Putin

IAG initiates €32 million share buyback program

MADRID, 24 May.

- 5 reads.

IAG initiates €32 million share buyback program

MADRID, 24 May. (EUROPA PRESS) -

International Consolidated Airlines Group (IAG) has announced a share repurchase program for a maximum amount of 32 million euros on the London Stock Exchange, the airline group has informed the National Securities Market Commission (CNMV).

The operation is part of the authorization granted by the ordinary general meeting of shareholders, held on June 17, 2021, in order to satisfy the allocations of shares to executives and employees (including executive directors) made under the plans of IAG share-based incentives.

This plan is scheduled to start this Tuesday and end no later than July 5, 2022, with the acquisition of a maximum of 15 million shares on the London Stock Exchange, representing 0.3% of the share capital.

The shares will be purchased at a price that will not exceed the higher of the price of the last independent transaction and the highest price independently offered on the Stock Exchange at the time the transaction is carried out.

The maximum volume will be equivalent to 25% of the average daily volume of shares traded on the Stock Exchange in the 20 trading sessions prior to the acquisition date.

The execution of the program has been entrusted to Deutsche Bank, which will carry out the acquisitions of shares on behalf of the company and will make all purchase decisions independently and without being influenced by the airline.