RFM board approves sale of 1.113M treasury shares
Listed RFM Corp. said its board has “informally” approved the move to sell the 1.113 million of its treasury shares.
“The Corporation intends to sell the authorized number of treasury shares as selling opportunity presents itself and up to the time when the total approved amount for sale is exhausted,” the food company said in a regulatory filing on Monday, noting that it is often asked by “quality investors” regarding available shares that can be purchased “in substantial blocks.”
“Management can seek Board authority for additional treasury shares to be sold if and when warranted,” it said, adding that the approval will be formally ratified on the board’s next scheduled regular meeting.
RFM manufactures and sells flour, bakery and other bakery products while also producing and manufactures and selling ice cream, milk and juices, pasta products and flour- and rice-based mixes.
The firm is famously known for its Selecta ice cream, White King All-Purpose flour, Fiesta spaghetti, and Royal spaghetti.