Arcona Property Fund N.V. starts share buyback programme
14 September 2022
Arcona Property Fund N.V. (the Fund) – a listed fund that invests in commercial real estate in Central Europe – intends to purchase its ordinary shares on Euronext Amsterdam with effect from 15 September 2022 for an amount of up to EUR 1.5 million. The shares acquired will be cancelled subsequently following a resolution of the shareholders meeting. This share buyback funding allocation is part of a larger tranche of up to EUR 10,000,000, which the Fund, in consultation with shareholders, is aiming to return to shareholders in due course from the proceeds of the ongoing sales program of non-core real estate assets.
The share buyback programme will be carried out in accordance with EU Market Abuse Regulations and will ultimately end on March 15, 2023, unless the maximum amount of EUR 1,500,000 has been repurchased before that date. In that case, the programme will end on the date on which this maximum is reached and the premature termination will be announced immediately.
ABN AMRO Bank N.V. will undertake this programme on behalf of the Fund for the purchase of its shares, making trading decisions independently of the Fund. The Fund will publish a weekly press release on Wednesdays during the term of the buyback programme on the progress of the transactions, provided that shares have been repurchased in the previous week. An overview of the progress of the share buyback programme will also be available on this website.
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Arcona Property Fund N.V. starts share buyback programme 14 September 2022 |
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