Fertiglobe seeks approval for 2.5pc share buyback
ABU DHABI, 7 days ago
Fertiglobe is seeking shareholder approval for a share buyback of up to 2.5% of its issued shares. The proposal reflects Fertiglobe's confidence in its long-term growth strategy and commitment to delivering sustainable value to shareholders.
The company will conduct the share buyback through open-market transactions in accordance with ADX regulations, with the quantity of shares repurchased dependent on market conditions and other factors.
Shareholders will also vote on key resolutions, including the approval of the H2 2024 dividend of $125 million, bringing 2024 total dividends to $275 million and total dividends since IPO to $2.5 billion.
The share buyback will be overseen and managed by the Board of Directors, with the 2.5% shares constituting the approved ceiling for the repurchase.-TradeArabia News Service
