August 3, 2023: European lead battery firm Monbat said on July 26 it had repurchased 2,545 own shares at an average price of BGN 4.47 ($2.50) per share.
Monbat now holds 29,545 shares overall — equivalent to 0.076% of all voting rights.
The battery manufacturer launched its shares buyback program in September 2022, saying it aimed to repurchase 1.17 million shares, or up to 3% of its registered equity capital.
The company said then that the buyback program would last 180 calendar days and if the maximum number of shares were not repurchased within that period, it reserved the option to extend the term by a further 180 days.
The program could also be halted earlier if the stock wanted is acquired ahead of schedule.
Monbat’s senior management team announced in a regulatory filing in June 2022 that it had secured a 20.78% stake in the group and pledged to further develop operations.
The six-member management team buy-in acquired shares, for an undisclosed sum, that were disposed of by the European Bank for Reconstruction and Development (EBRD) and CEECAT Capital.
