Origin Enterprises plc., the international agri-services group, has announced that it has purchased a total of 23,000 of its ordinary shares of €0.01 each in a share buyback programme, on Euronext Dublin through Goodbody Stockbrokers.
Following settlement of the purchases, the company’s total number of ordinary shares in issue (excluding treasury shares) will be 115,554,689 (each carrying the right to one vote).
The company’s total number of ordinary shares in treasury (which do not carry voting rights) will be 10,847,973.
Origin Enterprises has said that the repurchased ordinary shares will be held in treasury pending their cancellation or re-issue in due course.
Euronext Dublin No. of ordinary shares purchased 23,000 Highest price paid (per ordinary share) €4.38 Lowest price paid (per ordinary share) €4.235 Volume weighted average price paid (per ordinary share) €4.27
The purchases complete the company’s €40 million share buyback programme announced on March 8, 2022. Between March 9, 2022 and July 8, 2022, the company repurchased a total of 10,086,258 ordinary shares at an average price of €3.97.
Lat month Origin Enterprises, which provides specialist agronomy advice, crop inputs and digital agricultural solutions, announced that it had seen an increase of almost 50% in its group revenue in the quarter to the end of April 2022.
Reported group revenue was €880.6 million for quarter three (Q3), an increase of 47.3% on the prior year.
According to the company, while exceptional price volatility for both agricultural outputs and fertiliser persisted through Q3, the group experienced strong trading conditions throughout the period.
This was due to good crop establishment, generally favourable weather conditions and strong on-farm sentiment.