The shareholders at today’s Extraordinary General Assembly unanimously supported the request of one of the funds to set…
Up to PLN 1,300 per share as part of the buyback of Mercator Medical shares
The shareholders at today’s Extraordinary General Assembly unanimously supported the request of one of the funds to set the maximum price for the purchase of own shares at PLN 1,300 per share.
The process of purchase of Mercator Medical’s own shares for redemption is carried out on the basis of the resolution of the General Assembly of 3 June 2020, which authorised the Management Board to purchase its own shares at a maximum price of PLN 54 per share, for a total of PLN 30.7 million. In June this year, investors submitted offers to sell 196,600 securities at PLN 54 each ( PLN 10.6 million in total). The company accepted all these offers. However, the introduced maximum price limit prevented the completion of the buyback process in recent months.
“The resolution adopted will allow the Management Board to continue the share buyback process. We are glad that shareholders see a further high potential for increasing the value of the company. Thank you for your trust”, says Witold Kruszewski, Member of the Management Board for Finance at Mercator Medical S.A.
“I would also like to point out that the scale of the dividend paid in June and the ongoing buyback process do not naturally reflect the profits we have been generating since Q2 of the current year”, he adds.
Mercator Medical shares its success not only with investors, but also with those in need, by being actively involved in the fight against COVID-19 and donating personal protective equipment from its own portfolio. To date, Mercator Medical has already donated 1.6 million examination gloves and 50,000 face masks to 55 different institutions, mainly hospitals, nursing homes, hospices and foundations – including the Foundation for the Development of Nursing (Fundacja Rozwoju Pielęgniarstwa), the Saint Dominic Nuns Foundation (Fundacja Sióstr św. Dominika) – as well as to the Police Headquarters, the Material Reserves Agency and the Ministry of Health.
It is worth noting that following the growing interest of investors in the Mercator Medical Group, which is reflected in the company's capitalisation and liquidity of its shares, after the session on 19 June 2020, securities of Mercator Medical advanced to the mWIG40 index, and since 5 October, the Warsaw Stock Exchange introduced the company’s securities futures to trading.