Bulgaria's Web Media Group investors approve share buyback

The repurchased shares will be priced between 1.40 levs ($0.77/0.72 euro) and 2.10 levs apiece, Web Media Group said in a bourse filing on Thursday. The company's board will decide on the start date of the share buyback programme and how long it will run.

Web Media Group's equity capital is divided into 7.84 million shares of 1 lev in par value each, according to the commercial register.

Last September, the company launched a share repurchase programme, which ran until the end of 2023.

Shares in Web Media Group last traded on January 22 when they closed at 1.80 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)