Synthos to spend up to PLN 1.75 bln on buyback

WSE-listed chemicals group Synthos wants to carry out buyback using up to PLN 1.75 billion from its reserve capital the company said in a market filing. The decision will be voted on on the next shareholders assembly on May 8. “Shares can be bought by the management until the means gathered as reserve capital for dividend, advance dividend and buyback run out,” the draft resolution read. The company's majority shareholder is one of the richest Poles Michał Sołowow, who controls 62.5 percent stake.