R22 Group to spend up to PLN 5 mln on share buyback
06:00
The R22 Group has recommended at the general meeting of shareholders to buy up to 350,000 of its own shares, representing approx. 2.5 percent of the company’s total share capital. The proposed maximum price for one share is PLN 25, and the value of the entire program is PLN 5 million, the company said. In addition, the company's management wants to pay a dividend for the year ending June 30, 2019.
"At the IPO stage, we declared our willingness to share profits with shareholders. In our opinion, the current share price of R22 does not reflect the value and potential of the company, hence the decision on the proposal and recommendation for shareholders to buy shares," said CEO Jakub Dwernicki.
The R22 Group is a holding of technology companies. The Group focuses on scalable services offered in the subscription model and SaaS (Software as a Service). The company has been listed on the main WSE market since December 2017.
