M&Z plc - Resolution for a Share Buyback Programme

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.