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Market News | Softline's Board of Directors to Consider Buyback of 5% of Shares for 1 Year on October 22 — Company
On October 22, the Softline board of directors will consider the issue of buying out 5% of shares for a period of one year.
Softline, a provider of solutions and services in the field of digital transformation and information security, developing a comprehensive portfolio of its own products and services, announced that the Development Bank of the Republic of Belarus will buy out the bonds in the group's portfolio.
The group's subsidiaries holding the said securities have now received approximately RUB 2.95 billion as a result of the buyback. Taking into account the accumulated coupon income, the sale price is 110.125% of the nominal value.
The Group also announces the convening of the Board of Directors of the Company. At this meeting, among other things, the issue of buying out shares of PJSC Softline will be considered in the context of the recommendations of the company's management. PJSC Softline is undervalued.
The company's management proposes to approve a buyback program in the amount of 5% of the authorized capital of PJSC Softline for a period of 12 months. The meeting of the Company's Board of Directors is scheduled for October 22, 2024, at which issues of the quantitative nature of the buyback, the purpose of the buyback and other parameters will be considered.
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