Audax Renovables has decided, "voluntarily and for corporate purposes," to temporarily halt the execution of the share buyback program it had been developing and of which it has already consumed 38.69% of the maximum monetary amount foreseen.
The company has informed the National Securities Market Commission (CNMV) that, once the circumstances justifying this pause disappear, it will "timely communicate" the resumption of the program under the terms already announced, so that this temporary suspension will not imply any change in its conditions.
As of this Friday, July 3, Audax has allocated 7,737,468 euros to the acquisition of its own shares under this program, a figure that represents around 38.69% of the maximum monetary limit set for the buyback.
The company announced this buyback plan last November, in the context of the presentation of its new strategic plan.
The purpose of the program is to reinforce shareholder remuneration by purchasing up to 15 million shares, approximately 3.3% of the share capital, with a maximum amount of 20 million euros.