Shareholders' contributions
The share capital of the Group is represented by common shares with a nominal value of US$ 1.5 per share and one vote each.
|
| | | | | |
| Number of shares | | Share capital and share premium |
At January 1, 2015 | 122,382 |
| | 1,116,617 |
|
Employee share options exercised (Note 23) (1) | — |
| | 1,786 |
|
Restricted shares and units vested (Note 23) | — |
| | 3,103 |
|
Purchase of own shares | — |
| | (259 | ) |
At December 31,2015 | 122,382 |
| | 1,121,247 |
|
Employee share options exercised (Note 23) (1) | — |
| | 438 |
|
Restricted shares and units vested (Note 23) | — |
| | 3,225 |
|
Purchase of own shares | — |
| | (4,087 | ) |
At December 31,2016 | 122,382 |
| | 1,120,823 |
|
Employee share options exercised (Note 23) (1) | — |
| | 50 |
|
Restricted shares units vested (Note 23) | — |
| | 4,149 |
|
Purchase of own shares | — |
| | (32,515 | ) |
At December 31,2017 | 122,382 |
| | 1,092,507 |
|
| |
(1) | Treasury shares were used to settle these options and units. |
Share Repurchase Program
On September 24, 2013, the Board of Directors of the Company has authorized a share repurchase program for up to 5% of its outstanding shares. The repurchase program has commenced on September 24, 2013 and is reviewed by the Board of Directors after each 12-month period. On August 11, 2017, the Board of Directors approved the extension of the program for an additional twelve-month period, ending September 20, 2018.
Repurchases of shares under the program are made from time to time in open market transactions in compliance with the trading conditions of Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended, and applicable rules and regulations. The share repurchase program does not require Adecoagro to acquire any specific number or amount of shares and may be modified, suspended, reinstated or terminated at any time in the Company’s discretion and without prior not
As of December 31, 2017, the Company repurchased 6,742,183 shares under this program, of which 2,101,777 have been applied to some exercise of the Company’s stock option plan and restricted stock units plan. In 2017, 2016 and 2015 the Company repurchased shares for an amount of US$ 38,367; US$ 4,772 and US$ 320, respectively. The outstanding treasury shares as of December 31, 2017 totaled 4,643,396.
