PUIG Buys Back Manager Shares to Reduce Debt

by Archynetys Economy Desk

Exa business investment, a company that represents the Puig family, has agreed to the acquisition of class B actions of some PUIG executives to repair the loans granted by the company and entities of its group before its IPO.

The managers are headlines associated with the purchase of shares within the framework of various incentive plans in actions signed prior to the IPO process, as reported by Puig in a statement sent the National Securities Market Commission (CNMV) on Tuesday.

Within the framework of the operation, the managers have agreed to transmit 5,249,194 class B actions of the company, representative of approximately 0.245% of its social capital.

The offer price has been calculated taking into consideration the average price closure price of class B shares registered in the 15 stock sessions prior to counting since September 9.

Also, exa and the managers who have accepted the terms of the offer will carry out the notifications of operations of people with management responsibilities and people closely linked to them.

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