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M&Z plc – Resolution for a Share Buyback Programme

Jonathan Falzon

May 14, 2025

14 May, 2025
3 min read
14 May, 2025
3 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 13 May 2025, M&Z plc published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 4 June 2025.

One of the resolutions relates to a share buyback programme in which the directors are seeking authorisation to acquire up to 1,000,000 shares at a price ranging from a minimum purchase price of €0.45 per share and a maximum of €0.65 per share.

The shareholders’ circular explained that the authorisation will be granted until the AGM to be held in 2026 or for a period of 18 months. The acquisition of shares will take place exclusively on the Malta Stock Exchange.

M&Z explained that the purpose of the share buyback programme is to provide the company with a tool to manage its capital more efficiently, including as an alternative means of distributing capital to shareholders from time to time and by transferring and/or otherwise use any shares bought back (and held in treasury) for future acquisitions of assets or for any other purpose deemed appropriate by the Board from time to time. The Board noted that the programme will result in a maximum cash outflow of €650,000 plus transaction costs. Given the company’s current financial condition, including distributable profits and cash reserves, the Board does not believe that the Share Buy-Back Programme will have a material impact on the company’s financial position.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 13 May 2025, M&Z plc published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 4 June 2025.

One of the resolutions relates to a share buyback programme in which the directors are seeking authorisation to acquire up to 1,000,000 shares at a price ranging from a minimum purchase price of €0.45 per share and a maximum of €0.65 per share.

The shareholders’ circular explained that the authorisation will be granted until the AGM to be held in 2026 or for a period of 18 months. The acquisition of shares will take place exclusively on the Malta Stock Exchange.

M&Z explained that the purpose of the share buyback programme is to provide the company with a tool to manage its capital more efficiently, including as an alternative means of distributing capital to shareholders from time to time and by transferring and/or otherwise use any shares bought back (and held in treasury) for future acquisitions of assets or for any other purpose deemed appropriate by the Board from time to time. The Board noted that the programme will result in a maximum cash outflow of €650,000 plus transaction costs. Given the company’s current financial condition, including distributable profits and cash reserves, the Board does not believe that the Share Buy-Back Programme will have a material impact on the company’s financial position.