3rd Dec 2018 08:06
LONDON (Alliance News) - Coca-Cola HBC AG on Monday said it intends to buy back up to 7.5 million shares, worth GBP225 million, with the majority of the shares expected to be cancelled.
The stock was trading up 2.8% early on Monday at 2,400.00 pence a share.
The soft-drinks bottling company said the purpose of the share purchase programme is to avoid dilution resulting from the issue of stock options and meet the requirements of its employee incentive scheme.
Coca-Cola HBC said it will cancel the majority of repurchased shares. Those that are not cancelled will be held in treasury until either awarded to employees under the company's employee incentive scheme or a capital reduction is implemented.
The share repurchase plan is anticipated to complete no later than at the end of June next year.
Related Shares:
Coca-Cola HBC