Ukrproduct AGM approves plans to buy back up to 22% of shares
11 June 2012
Ukrproduct (UKR LN) shareholders, at an AGM on June 7, approved plans to buy back up to 9.0 mln shares out of 40.8 mln outstanding. This amount represents 22% of total share capital and 3/4 of the company’s free float (29.2%). Further details were not disclosed. Approval of the buyback program was widely expected (see our news of May 18). We do not rule out delisting following the buyback as the company’s current capitalization of GBP 3.9 mln does not justify the cost of listing on the LSE.
