Roularta buys back shares from Bestinver
The publicly traded Roularta Media Group has reached an agreement with Spanish fundBestinver, which became a shareholder of the group shortly after the IPO and, over the years, hadbuilt up a participation that once represented more than 10% of the shares. Roularta is grateful forthis long-standing loyal partnership. After 20 years of constructive ownership, Bestinver contactedRoularta Media Group to sell its shares.
Roularta is buying back a package of 916,536 shares, which has limited the liquidity of the sharefor years, at € 12.40 per share. This makes available to Roularta a total package of more than 1.5million treasury shares, or more than 11%, which could increase the free float and the liquidity ofthe share at the right time.
Roularta has full confidence in the future as a listed media company in a changing world. Thegroup is now less dependent on the advertising market, and the millions of media consumers areresponsible for the greatest part of revenue. The digital transition is progressing successfully,which translates into new channels for gaining readership, resulting in growing subscriptionrevenues. Roularta continues to innovate and offer new possibilities to the advertiser and themedia consumer.”
|Rik De Nolf
Chairmen of the Board