Acron completed a buyback of 9.32% of its shares
Acron Group completed the buyback of its 3.777 million shares, which is 9.2% of the company’s authorized capital. Acron’s subsidiaries that own its shares participated in the buyback by submitting applications to purchase all of their shares. The stock of such shares amounted to 3.347 million pieces.
Payment for the acquired shares should be made no later than August 21, 2021.
“Within the ESG strategy, as well as following the recommendations of the Corporate Governance Code and the best international practices, we simplify the structure of the company, eliminating the stock of shares owing by the subsidiary enterprises. The decision upon the appeared treasury block of shares will be made later. Following the law, these shares need to be either redeemed or sold within a year,” said Alexander Popov, the Chairman of the Board of Directors of Acron Group.