Shareholders in Coca-Cola Hellenic Bottling Company (CCHBC) have approved the proposal for a share buy-back scheme.

The Greece-based soft drinks bottler said yesterday (27 April) that a majority of its shareholders approved the programme at an EGM, also held yesterday. The proposal allows the company to buy back up to 5% of its paid-in shares between now and 26 April 2011.

"Based on the company's current capitalisation, the maximum amount that may be bought-back pursuant to the programme is (in the region of) 18.3m shares," CCHBC said. "Purchases under the programme are subject to a minimum purchase price of EUR1.00 per share and a maximum purchase price of EUR20.00 per share."

Earlier this year, CCHBC posted a slide in full-year net profits, despite a 5% increase in sales volumes.