Rhodia announces share buy-back program to cover free share allocation plans
Rhodia announces today that it will repurchase a maximum of 2 million shares, representing nearly 2 percent of the Group’s share capital. This program was first approved by its shareholders at the Combined Shareholders’ Meeting held on May 16, 2008 under resolution 12, and decided by Rhodia’s Board of Directors in its July 29 meeting.
The shares that will be repurchased under this program will provide for the execution of existing plans allocating free shares to employees and executive officers of the Group and its subsidiaries, in accordance with Article L. 225-180 or L. 233-16 of the French Commercial Code.
Rhodia has appointed an authorized financial institution to independently implement this share buy-back program.
Weekly updates of the transactions carried out under the program will be available on the www.rhodia.com website.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.