Fingerprint Cards (FPC) will implement a planned share split next Monday, the company has announced.
It’s a follow-up to one of the developments from the company’s Annual General Meeting earlier this month, at which it was resolved that each share would be divided into five shares of the same class. Now, the Board of Directors has determined that this will take place on May 30th.
The Board has also decided to act on its authorization to implement a treasury shares buyback scheme. In a statement announcing these measures, FPC explained that buying back treasury shares will foster “increased latitude for the Board in its efforts to shape the company’s capital structure, which is deemed to have a positive impact on the price trend of the company’s share and thus contribute to generating the highest possible return for shareholders,” suggesting that the company remains focused on rewarding shareholders after a period of exceptional growth.
FPC also said that buying back treasury shares will foster “flexibility in the company’s opportunities to complete acquisitions of companies or business combinations,” hinting at some important potential business developments to come.
May 26, 2016 – by Alex Perala