Fresh produce giant Total Produce has announced that it is to initiate a €20 million share buy-back programme.
The share buy back programme is is equivalent to 16 million ordinary shares of nominal value €0.01 ('Ordinary Shares’), based on the share price of €1.25 at close of business on 7 October 2015, and will reduce the issued share capital of the Group.
It follows positive first half results for the group, and an increase in earnings outlook. Earlier this year, Total Produce acquired a 50% shareholding in the CAD$170m sales Gambles Group based in Toronto, Canada.
The share buy back programme starts on October 9th, and will be managed exclusively by Davy Stockbrokers.
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