As part of its share buy-back program, activated on 2 September 2011, Omega has increased from 13 to 21 September the number of treasury shares by 530k to 1.54 million treasury shares, representing 10.0% of the total number of outstanding shares (was 3.63% before the program started).
90k shares were acquired in this period on Euronext at an average price of € 34.67/share and another 413k were acquired via block trading, off exchange, at an average price of € 34.47/share. The amount paid for the treasury shares in the period 13 to 21 September was € 17.3m, and since 2 September amounts to € 53.3m.
Our View:
As (14,71 EUR, -3,45%) Securities has been appointed as an independent expert to the board of (34,6 EUR, -0,55%), we adopt a ‘No recommendation’ rating.