Buyback Decision by Fertilizer Factories
Gübre Fabrikaları (GUBRF) has made a statement to its investors. The company's Board of Directors decided in a meeting held on October 30, 2024, to submit the share buyback program for approval at the general assembly.
This decision was made in accordance with Article 379 of the Turkish Commercial Code No. 6102, Article 22 of the Capital Markets Law No. 6362, and the Regulation on Buyback Shares published by the Capital Markets Board. The maximum number of shares eligible for buyback under the program has been determined as 33,400,000 lots, while the maximum fund allocated for this transaction is set at 4 billion TL.
The Board of Directors announced that the buyback program will be valid for a maximum of one year from the date of general assembly approval. In line with this decision, the "Gübre Fabrikaları Türk A.Ş. Share Buyback Program" will be presented for approval at the Extraordinary General Assembly Meeting scheduled for November 25, 2024. Investors and shareholders will have the opportunity to express their opinions and vote on this program during the meeting.
Details of the buyback program Gübre Fabrikaları' share buyback program has been prepared to take precautions against fluctuations in the capital markets and to optimize shareholder value. The board has stated that the buybacks will be conducted within certain limits, and adjustments can be made depending on market conditions when necessary. The planned maximum buyback amount and fund size were calculated considering Gübre Fabrikaları' strategic financial policies and market conditions.
The impact of the buyback program on the company's shares and developments during the process are of significant importance to investors. It is aimed that the buybacks under the program will have a stabilizing effect on the company's share price and increase market confidence. In this context, Gübre Fabrikaları continues to remain committed to its shareholders in the capital markets through the share buyback program.
General assembly decision awaited Eyes are on the Extraordinary General Assembly Meeting to be held on November 25, 2024, for the approval of the program. The decisions made during the meeting will play a critical role in shaping the company’s financial strategies for the upcoming period. The management of Gübre Fabrikaları stated that they will continue to provide effective communication to their shareholders and build trust.
At this important meeting, investors and shareholders will come together to evaluate and approve the details of the buyback program. The decisions that emerge from the general assembly will be an important indicator of the program's feasibility and shareholder satisfaction. The company aims to reinforce its commitment to its shareholders in the capital markets through the buyback program.
Current status of GUBRF The GUBRF share began the day with an increase of 3.2%, but gave back some of its gains in the early trades, trading below 200 TL. The stock has continued to rise by nearly 5% this week, while it has experienced a partial decline of around 2.5% over the month. GUBRF has recorded a value increase of 28% since the beginning of the year.