EnglishThe largest Romanian PVC producer, the "Teraplast" Group (symbol:TRP), last week began buying back its own shares from the stock exchange, through the brokerage firm "BT Securities".
The decision to buy back a maximum number of 4.5 million shares was approved at the General Shareholder"s Assembly held on December 11th, with the shares bought to be then sold to the company"s executive managers. Also, according to the company officials, the maximum price for the share buyback will be 0.89 lei/share, and the titles acquired will be paid from the company"s reserves, with the buyback period to last a maximum of 272 days since the beginning of this process.
"Teraplast" has budgeted for this year a turnover of over 230 million lei, and a net profit of 21.3 million lei. Also, the scheduled investments for this year have been limited to only 25.1 million lei, whereas last year"s investment budget was almost 63 million lei.
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