(Il Sole 24 Ore Radiocor) - Milano, 7 apr - The Italian food and beverage group NewPrinces said it was "significantly" accelerating its share buyback plan in light of the current share price valuation and its strong financial position.

"Management believes that current market levels do not fully reflect the group's intrinsic value, the quality of its assets, or the growth prospects arising from the recently launched industrial and retail integration strategy." NewPrinces noted that it currently holds 1,142,348 treasury shares representing 2.60% of the share capital. Under its current authorization from shareholders, the company may purchase additional shares up to a maximum of 17.40% of the share capital, for a total not exceeding 20% of the share capital.

NewPrinces shares are listed on the STAR segment of Euronext Milan.

"The buyback programme forms part of the group's broader capital allocation framework, which remains primarily focused on organic growth and the execution of its M&A strategy, and represents a tool to support long-term shareholder value.

creation," NewPrinces said.

(RADIOCOR) 07-04-26 09:43:29 (0181) 5 NNNN