K2 Group to buy-back undervalued shares

The K2 Group has started its second share buyback program, under which it plans to acquire no more than 463,531 treasury shares, representing no more than 20% of the share capital, the company said. The purchase program, the potential maximum value of which is PLN 11.59 million, will start on October 4, 2021 and will last no later than June 30, 2024.

“We believe that K2 Holding shares are undervalued on the WSE, therefore the buy-back is beneficial for shareholders. Currently, our capitalization is less than PLN 50 million, while we generate solid results, pay dividends and have enormous growth potential. 2/3 of our diversified business is based on technologies that respond to global trends and the researched needs of local companies, such as in the area of ​​e-commerce or cloud” said president Paweł Wujec, quoted in the release.

The buy-back of treasury shares may last until the end of June 2024, and its pace is limited by the ratio of 25% of the average daily turnover in the past month (August 2021; possible buy-back of up to 704 shares per day). The shares will be purchased during trading sessions at a price not lower than PLN 1 and not higher than PLN 25 per share (the closing price on August 31, 2021 is PLN 20.40), also announced.

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