AlzChem Group AG (ALZCF,ACT.DE), a specialty chemicals company, on Tuesday announced that the Management Board, with the approval of the Supervisory Board, has resolved to repurchase up to 70,000 shares via the stock exchange over a period of up to 12 months.
The buyback has a total purchase price of up to 10 million euros.
The share buyback is intended to use the acquired shares as acquisition currency, issue shares to employees of the company, or cancel the shares, while other legally permissible purposes are not excluded.
On Monday, AlzChem closed trading 2.65% higher at 139.40 on the XETRA.
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