Compagnie Financière Tradition SA to buy back up to 300,000 shares under new program
Swiss interdealer broker Compagnie Financière Tradition today announced that its share buyback program will be launched on 21 August 2023. It is expected to run until the end of May 2026.
This share buyback program of up to 300,000 bearer shares, equivalent to a maximum of 3.91% of the share capital, amounts to a total of approximately CHF 35 million based on the current share price.
The shares will be repurchased via a second trading line on the SIX Swiss Exchange, with Compagnie Financière Tradition as the exclusive buyer.
The Board of Directors of Compagnie Financière intends to propose a capital reduction for the shares that will have been repurchased under the program at a future general meeting.