ECONOCOM : Project for cancelling all the Treasury Stock - Econocom continues its Shareholder return policy
The Shareholders of Econocom, a European business-to-business digital service provider, have been invited to a General Shareholders' Meeting on 31 December 2013 in order to decide on the cancellation of all the company's Treasury Stock.
As of 27 November 2013, Econocom holds 6,014,892 treasury shares, i.e. 5.34% of the share capital, and reserves the right to continue its share buyback plan up until the day before the Shareholders' Meeting. This cancellation will have an accretive effect on earnings per share.
By carrying out this transaction, Econocom will be continuing its shareholder return policy. For the record, in 2012, the company cancelled almost 8% of its outstanding shares and distributed, in 2013, a dividend of €0.10 per share.
The invitation to the Shareholders' Meeting, including the agenda, proposed decisions and rules and procedures for attendance, are available on the Econocom website: www.econocom.com.
The 2013 preliminary full-year results will be published after the close of trading on 28 January 2013.
Econocom is a European provider of business-to-business digital services. In 2012, it posted consolidated revenue of €1.54 billion. The services provided by the group include consulting, distribution, technology management & financing, and a complete range of IT outsourcing services. On 22 November 2013, Econocom finalised the acquisition of the entire share capital of Osiatis, a major infrastructure service provider and related applications specialist. This transaction has resulted in the creation of a major new digital service company, with over 8,000 employees in 20 countries and total revenue of around €2 billion.
The Econocom Group share (BE0974266950 - ECONB) has been listed on the Euronext NYSE in Brussels since 1986 and is part of the BelMid index.
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