Americana buys back 1.25M shares

Americana Restaurants International PLC bought back 1.25 million shares under the share repurchase program approved by the Securities and Commodities Authority (SCA) in May.

In a statement to the Abu Dhabi Securities Exchange (ADX) today, Aug. 12, the company indicated that the weighted average purchase price is AED 2.68 per share, noting that the buyback process was carried out through its broker, International Securities LLC.

The remaining shares to be repurchased by the company, as per ADX approval, amount to 23.75 million.

Americana's shareholders, during an ordinary general assembly held last May, approved the repurchase of 25 million shares to be allocated for the employee incentive program, data available to Argaam showed.