Americana's board OKs 25M share buyback for LTIP

An Americana branch

Americana Restaurants International PLC’s board of directors approved today, March 4, repurchasing 25 million shares to be allocated to the long-term employee incentive program (LTIP).

The decision is conditional on obtaining the regulatory approvals from competent authorities and the shareholders' general assembly, the company said in a statement to Abu Dhabi Securities Exchange (ADX).

The board also reviewed the company's business activities and annual report as well as updates on its annual plan. Besides, it looked into a number of operating and administrative matters.