IFCO Systems, the international logistics service provider that offersa number of pallet management services to the fresh produceindustry, has revealed that it is to undertake a share repurchasing programme, beginning today (12 August).
As part of the move, the group will repurchase up to 2m shares either through the stock exchange or from one or more individual shareholders through private transactions.
According to IFCO, the acquisition prices will not be lower than €0.01 and will not exceed the average stock exchange price at the Frankfurt Stock Exchange during five stock exchange days prior to the day of the acquisition by more than 10 per cent.
Bayerische Hypo- und Vaereinsbank AG in Munich, Germany have been authorised to carry out the repurchase, and will independently decide upon the amount of shares to be purchased as well as the price and time of purchase.
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