The online travel agency eDreams Odigeo has agreed to carry out a program to repurchase its own shares that will affect a maximum of 10.8 million titles, with an amount of up to ten million euros, as reported to the National Commission of the Stock Market (CNMV).
The objective of this program is to allow the company to comply with the obligations derived from the existing incentive plans for the delivery of shares, where appropriate, to the beneficiaries thereof.
The shares of the repurchase program, which will remain in force from this Tuesday until June 17, 2021, will be purchased at market price.
However, the Repurchase Program may be terminated prior to that date if any circumstance that so advises, in the usual terms for these operations.
The interruption, termination or modification of the repurchase program, as well as the purchase of shares carried out under it, will be duly communicated to the CNMV.
The management of the Repurchase Program has been entrusted to Morgan Stanley & International Co., which will make the acquisitions of shares on behalf of the firm and will make all decisions to purchase the shares regardless of it.
Due to the launch of the share repurchase program, eDreams Odigeo has agreed to suspend the liquidity contract signed with GVC Gaesco Valores on Monday.
At the close of the stock exchange session on December 13, the balances of the securities and cash account opened with said financial intermediary to carry out the transactions object of the liquidity contract amount to 54,298 shares and 285,796.67 euros, respectively.