Farmaceutica Remedia buys back 1.65% of its outstanding shares

Shareholders of the drug distributor Farmaceutica Remedia (BSE: RMAH) have agreed on a share buy back program for 1.65% of its outstanding shares, according to a press release to Bucharest Stock Exchange.
The 1.75 million shares will be repurchased at a minimum price of 0.1 lei/share and a maximum price of 0.5 lei over 12-month period since the publication of the decision in the Official Gazette.

Farmaceutica Remedia reported a net profit of 1.84 million lei (€0.44 million) for the first quarter, 47% above year-ago quarter level.

The company has a share capital of 10.6 million lei, divided into 106.8 million shares outstanding with a face value of 0.10 lei.

The majority shareholder is the chairman of the company, Valentin-Norbert Tarus with 66.05% stake, while the Romanian subsidiary of the German AHG Industry – AHG Simcor Industry holds 16.65%.

The company’s market value is 19.09 million lei (€4.6 million), according to yesterday’s closing quote of 0.18 lei/share.

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