smartphoto group announces the start of a new share buyback programme

PRESS RELEASE – Regulated information
Wetteren, 13 May 2024 – 05.45 p.m.
smartphoto group – Euronext Brussels: SMAR

Smartphoto group, the innovative e-commerce group from Wetteren, announces today that the Board of Directors has decided to launch a new share buyback programme with a maximum value of 1 500 000 euro in treasury shares. The period starts on 14 May 2024 and ends on 31 December 2025, or earlier if the target value of treasury shares is acquired.

As foreseen in the articles of association of smartphoto group NV, the Extraordinary General Meeting of Shareholders of 11 May 2022 granted the Board of Directors a power of attorney for this purpose, in accordance with article 7:215 of the Belgian Code of Companies and Associations. This authorisation is valid for a period of five years as from the publication of this decision in the annexes to the Belgian Official Gazette.

With this new programme, smartphoto group further aims to use part of its free cash flow to expand its existing pool of treasury shares as an investment, as well as to fund potential future acquisitions.

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