AFYREN Launches a Share Buyback Program
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Regulatory News:
AFYREN (Paris:ALAFY), a greentech company that provides manufacturers with low-carbon, bio-based products through its unique fermentation technology based on a completely circular model, today announced that it will implement a share buyback program for a maximum quantity of 52,000 shares.
The Board of Directors of AFYREN, in its meeting of March 21, 2023, decided to implement this share buyback program. In a context of low share price, this program will reduce shareholders’ dilution from the allocation of shares to the founding directors, with no significant cash impact.
Furthermore, confident in the Company's prospects, the founding directors have purchased shares directly on the market in recent weeks.
AFYREN is launching this share buyback program in accordance with the 6th resolution approved by the General Meeting of Shareholders of June 15, 20221.
To implement this share buyback program, AFYREN has given Natixis Corporate & Investment Banking a mandate to acquire, on the dates it deems appropriate, a maximum of 52,000 shares.
The description of the share buyback program is available on AFYREN's website, in the Documentation > Other regulated information section.
About AFYREN
Founded in 2012 to address manufacturers’ growing need to reduce the carbon footprint of their inputs and move towards more natural ingredients, AFYREN manufactures biobased products to replace petroleum-derived molecules. Because of its innovative, unique, and proprietary process, the French greentech company offers low-carbon, bio-based alternatives in the following sectors: human and animal nutrition, cosmetics, flavors and fragrances, and fine chemicals. By valorizing local, non-food biomass, AFYREN helps manufacturers offer more sustainable finished products while remaining competitive.
The company is pursuing an ambitious development plan to better serve its international customers. Its first plant, AFYREN NEOXY, a joint venture with Bpifrance’s SPI fund, is located in France to serve mainly the European market. In early 2023, AFYREN announced the launch of a factory project in Thailand, partnering with a world leader in the sugar industry. AFYREN is also developing its presence in the Americas, in line with the distribution agreements already signed.
In 2023, AFYREN employs more than 110 people in Lyon, Clermont-Ferrand & Carling Saint-Avold and invests 20% of its budget in R&D each year.
AFYREN has been listed on Euronext Growth® in Paris since 2021 (ISIN code: FR0014005AC9, mnemonic: ALAFY).
Find out more: afyren.com
Financial calendar
- Annual general meeting: 21 June 2023
- Half-year results 2023: 2 October 2023
1 Please refer to section « general meetings » of the AFYREN website https://afyren.com/en/investor/
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