R22 Convenes an EGM to Decide on Share Buyback

The Management Board of R22 has convened an Extraordinary General Meeting of Shareholders for 12 June to vote on the execution of a share buyback of up to PLN 2.5 million and a change to the company’s financial year. The Management Board also reaffirms its intention to buy back up to 350,000 shares for a total value of up to PLN 5 million over the next 18 months.

– Since our IPO, we have been dynamically improving our results and growing the scale of the R22 Group. In line with our earlier commitments, we intend to share this growth with our shareholders – both through dividend payments and through a share buyback, which we have decided to carry out in two phases. Subject to shareholder approval, we would like to repurchase shares worth up to PLN 2.5 million in Q3. – explains Jakub Dwernicki, CEO of R22.

The draft EGM resolutions propose granting the board of directors of H88 S.A., a subsidiary of R22, authorisation to carry out a buyback of R22’s own shares for a total value of up to PLN 2.5 million, at a maximum price per share of PLN 25.00. The buyback will be conducted through a public invitation to tender shares.

On 12 June, shareholders will also vote on a change to the company’s financial year. If the proposed resolution is adopted, the financial year starting 1 July 2019 will run through to 31 December 2020, with subsequent years aligning with the calendar year.