Brunel commences share buyback program to cover performance share plans
Amsterdam, 1 June 2021 – Brunel International N.V. (Brunel; BRNL), a global provider of flexible workforce solutions and expertise, today announced the start of its share buyback program.
Brunel intends to repurchase ordinary shares on Euronext Amsterdam for an amount up to EUR 1,977,000, starting on 3 June 2021 in order to meet obligations under its performance share plan for senior management (excluding Board of Directors). The performance share plan is conditional to targets for financial year 2023. Shares will vest 2024 with a lock-up period of two years.
Based on the closing price of the Brunel's ordinary shares on Euronext Amsterdam on 31 May 2021 this would be equivalent to 175,577 ordinary shares (0.35% of the total outstanding shares). The share buyback program will ultimately end on 30 July 2021, unless the maximum amount of EUR 1,977,000 has been repurchased prior to that date. In the latter case the program will end on the date on which this maximum is reached and the early termination will be immediately disclosed.
Brunel will publish a press release every Monday for the duration of the buyback program, provided shares were repurchased in the preceding week. An overview of the progress of the share buyback program can be found on Brunel’s website.
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