Oeneo SA commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on July 27, 2022.
April 10, 2023
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Oeneo SA (ENXTPA:SBT) commences share repurchases on April 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on July 27, 2022. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The maximum repurchase price is set at €17 per share. The purpose of the program is to meet the requirements arising from programs for the allocation of free shares to employees and/or corporate officers of the company and/or of affiliated companies, reduce the share capital by canceling treasury shares and meet the requirements arising from securities granting access to the share capital. The repurchase authorization is valid for 18 months.
On December 7, 2022, the company announced a share repurchase program. Under the program, the company will repurchase up to 1,000,0000 shares, representing 1.54% of its share capital. The repurchase program is valid for 12 months.
Oeneo is the world's No. 1 of cooperage for winemaking and the world's No. 2 of wine corking products. Net sales break down by family of products as follows:
- corking products (70.2%): primarily high-tech cork stoppers for still wines, sparkling wines, and fortified wines, for the Diam and PIETEC lines;
- cooperage (29.8%): casks, barrels, tanks, drums and alternative products (powders, wood chips, and staves) marketed under the Seguin Moreau, Boisé, Tonnellerie Millet, Fine Northern Oak and Galileo brands.
Net sales are distributed geographically as follows: France (28.7%), Europe (39%), America (25.1%), Oceania (1.7%) and other (5,5%).
OENEO 
