May 15, 2018 / 11:54 AM / 11 days ago

BRIEF-Shareholders To Vote On Buying Back Colian's Shares

May 15 (Reuters) - COLIAN HOLDING SA:

* SAID ON MONDAY THAT ITS SHAREHOLDERS WILL VOTE ON JUNE 11 TO CHANGE THE RESOLUTION FROM JUNE 29, 2015, REGARDING THE AUTHORISATION OF THE COMPANY’S MANAGEMENT TO BUY BACK COLIAN’S OWN SHARES

* FOLLOWING THE CHANGE, FROM JUNE 11, 2018, UNTIL JUNE 30, 2020, THE COMPANY OR COLIAN SP. Z O.O. WILL BE ABLE TO ACQUIRE UP TO 28.4 MILLION SHARES FOR NO LESS THAN 0.5 ZLOTY/SHR AND NO MORE THAN 3.76 ZLOTY/SHR

* THE AIM OF THE SHARE BUYBACK IS TO BE DECIDED BY THE MANAGEMENT, IT COULD BUY THE SHARES TO REDEEM THEM OR TO WITHDRAW THEM FROM THE WARSAW STOCK EXCHANGE AMONG OTHERS

* SHAREHOLDERS ARE ALSO TO DECIDE ON THE ACQUISITION OF THE COMPANY’S OWN SHARES IN AN AMOUNT NOT HIGHER THAN 8.5 MILLION SHARES UNTIL JUNE 30, 2020, IN ORDER TO REDEEM THEM

* THE SHARES WILL ALSO BE BOUGHT FOR NO LESS THAN 0.5 ZLOTY/SHR AND NO MORE THAN 3.76 ZLOTY/SHR

* IN MARCH SOME OF THE CO’S SHAREHOLDERS, INCLUDING COLIAN HOLDING SA, ANNOUNCED THEIR PLANS TO BUY 41.9 MILLION OF CO’S SHARES AT 3.76 ZLOTY/SHR

SOURCE TEXT FOR EIKON:

FURTHER COMPANY COVERAGE: (Gdynia Newsroom)

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