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San Miguel adopts share repurchase plan

3 June 1999: Philippine food and beverage conglomerate San Miguel Corp. said it would repurchase up to 10% of its capital stock.
The repurchase programme, approved by the company“s board of director…

3 June 1999: Philippine food and beverage conglomerate San Miguel Corp. said it would repurchase up to 10% of its capital stock. The repurchase programme, approved by the company“s board of directors, is aimed at enhancing shareholder value, San Miguel said in a statement. The company said it would also be able to stabilize share prices through the scheme. The statement said San Miguel“s management would decide on the specifics of the implementation of the plan. San Miguel did not give any indication of the repurchase price, or when the share buyback would begin.

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