PRYCE Corp. on Monday said that its stockholders had approved a share buyback program worth up to P500 million, to be implemented over a two-year period.
In a disclosure, Pryce said the buyback was ratified and approved during the company’s regular annual meeting last Friday.
The buyback “will be implemented for two years, starting on June 26, 2026, with an automatic termination upon the lapse of the same period,” it said.
In a separate disclosure, Pryce also announced shareholder approval of the sale of more than 143 million treasury shares.
“At the regular meeting on June 26, stockholders have also ratified and approved the sale of 143,953,831 treasury shares at a price that will be determined by the company,” it said.
“The proceeds will be used for general corporate purposes and will be subject to any applicable laws, rules, and regulations,” it added.
Pryce shares on Monday dipped P0.02, or 0.13 percent, to settle at P14.98 apiece.
