Remy Cointreau detailed the latest share purchase in August

Remy Cointreau detailed the latest share purchase in August

Remy Cointreau has completed its latest share buyback programme, shoring up just over half the number of shares it had originally lined up for purchase.

Back in August, the group launched the programme, eyeing "a maximum of 500,000 shares before the end of the year". Between Christmas and New Year, the transaction closed, with 273,009 shares being bought on the open market by Remy.

The shares, which total just over 0.5% of the group's share capital, cost an average of EUR96.44 (each), valuing the transaction at EUR26.3m (US$31.6m).

Remy said last week: "The shares thus acquired were allocated to the following objectives:

  1. To cancel shares as part of a capital reduction
  2. To cover obligations in respect of marketable securities giving access to capital
  3. To cover obligations with respect to the allocation of free-share programmes for employees and/or directors and officers of the company and/or companies related to it."

The group will release details of its sales performance in the nine months to the end of December on 19 January.

"If there's one rum brand that can legitimately play in the super-premium segment, it's Mount Gay" - Click here for just-drinks' interview with Raphaël Grisoni, MD at Mount Gay for Remy Cointreau

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