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Farmer Business Development shareholders to share €4.4m

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490 farmers who are shareholders of Farmer Business Development plc, will tomorrow share a €4.4m pay out as a result of a voluntary share buy-back scheme

In total 3,826,584 shares are to be purchased by the company from the farmers at a price of €1.53 per share."In view of this, the Board decided to increase funding of the scheme to €4.4m in order to minimize the scale-back of applications and meet the expectations of as many shareholders as possible," said chairman Padraig Walshe.

"I am pleased to announce therefore that we have agreed to buy 100% of the shares offered by 421 shareholders, while 69 applicants who offered in excess of 10,369 shares will be successful up to that level." "A typical £50 investor from that time would today hold 10,369 shares in Farmer Business Developments plc," said Mr Walshe.

 

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