Benzinga | Mar 12, 2021 05:19AM EST

Grifols Board Implements Share Buyback Program of Up to 6.875M Shares

The Board of Directors of Grifols (NASDAQ:GRFS) has resolved to implement a buy-back programme of Grifols' own shares (the "Buy-back Programme"), in accordance with the authorisation granted by the Ordinary General Shareholders' Meeting held on 9 October 2020 under item twelve of its agenda.

The Buy-back Programme will be carried out pursuant to the provisions of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (the "MAR") and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilisation measures (the "Delegated Regulation" with the exception of article 2 para. 1 a) of the Delegated Regulation. The Delegated Regulation together with the MAR, the "Buy-back Programme Rules").

The Buy-back Programme will be executed under the following terms:- Purpose: the Buy-back Programme is executed with the aim of using the own shares as a consideration in certain future acquisitions that Grifols may carry out (as Grifols has done in previous occasions).- Maximum number of shares and maximum net investment: the maximum number of shares to be acquired under the Buy-Back Programme is set at 6,875,549 Grifols' shares, specifically 4,261,298 Class A shares and 2,614,251 Class B shares, representing 1% approximately of the share capital of Grifols as of the date thereof. The maximum net investment is EUR 125,000,000. The purchase of Class A and Class B shares is made on a pro rata basis, in accordance with the Articles of Association.