- ISIN DE0006602006
- Country Deutschland
GEA Group Aktiengesellschaft
GEA Group Aktiengesellschaft resolves share buyback with cancellation of shares in a volume up to EUR 400 million and cancellation of held treasury shares in a buyback volume of around EUR 300 million
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GEA Group Aktiengesellschaft / Key word(s): Share Buyback
The Executive Board of GEA Group Aktiengesellschaft resolved today that the Company will acquire own GEA shares with a value of up to EUR 400 million (not including ancillary acquisition costs) in the period from November 2023 to the beginning of 2025 via the stock exchange using the authorization granted by the Annual General Meeting on 27 April 2023.
The program is scheduled to start in November 2023 with a first tranche of up to EUR 150 million (not including ancillary acquisition costs) and to be completed within six months. At the same time, the Executive Board, with the approval of the Supervisory Board, resolved that the shares to be newly acquired under the share buyback program as well as the 8,161,096 treasury shares currently held by the Company (corresponding to 4.52% of the capital stock) shall be cancelled without reducing the Company’s share capital. These shares were acquired as part of the 2021/2022 share buyback. The volume of the buyback at that time totaled around EUR 300.5 million. The share buyback is to be carried out in accordance with the safe harbor provisions of Article 5 of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014) in conjunction with the provisions of the Delegated Regulation of the EU Commission (Regulation (EU) 2016/1052). The Company will provide regular information on the progress of the share buyback program on its website www.gea.com. Contact: GEA Group Aktiengesellschaft Oliver Luckenbach Head of IR Phone +49 (0)211 9136 1080 oliver.luckenbach@gea.com End of Inside Information
07-Nov-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | GEA Group Aktiengesellschaft |
| Peter-Müller-Straße 12 | |
| 40468 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 9136-0 |
| E-mail: | ir@gea.com |
| Internet: | www.gea.com |
| ISIN: | DE0006602006 |
| WKN: | 660200 |
| Indices: | MDAX |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1767551 |
| End of Announcement | EQS News Service |
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