is summoning EGM on 5 October at 9:00 CET to follow agenda of previous EGM and will be followed by AGM at the same day at 9:30 CET with share buy-back on the agenda. wants to have a possibility to buy own shares up to 5%.
Based on similar provisions of other listed companies, we see it rather neutral but could represent some support for the share price in bad times once shares buy-back is approved. 5% shares represents approx. 520,000 shares which 6 times combined average daily volume traded in Prague and Paris over past 12 months. According to the EU directive these shares will only be used for its option program, acquisitions paid-in shares and deliveries of shares in relation to Orco's bond issues.