from Kontron AG (isin : DE0006053952)
EQS-Adhoc: Kontron AG resolves on a new share buyback program of up to EUR 70 million.
EQS-Ad-hoc: Kontron AG / Key word(s): Share Buyback
Kontron AG resolves on a new share buyback program of up to EUR 70 million.
27-Sep-2023 / 14:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
27.09.2023 | Austria
On 27.09.2023, the Executive Board of Kontron AG (www.kontron.com, ISIN AT0000A0E9W5, WKN A0X9EJ, KTN) resolved on the implementation of a new buyback program for own shares ("Buyback Program II 2023") in accordance with § 65 para. 1 no. 8 of the Austrian Stock Corporation Act (AktG) by further utilizing the authorization granted by the ordinary shareholder meeting on 6 May 2022, published on 6 May 2022 via an electronic information dissemination system.
The Executive Board's decision to launch the Buyback Program II 2023 was taken against the background of the current share price of the company, which, from the Executive Board's perspective, represents a very attractive level. In addition, the liquidity situation and the further planned course of business are excellent, so that the organic growth, the planned acquisitions and the new Buyback Program II 2023 can be financed.
The share buyback under the Buyback Program II 2023 will be made for the account of Kontron AG and managed by a credit institution that resolves upon the purchase timing independently and uninfluenced from Kontron AG and will conduct the share buyback under the Buyback Program II 2023 in accordance with the provisions set forth in article 3 of the Delegated Regulation (EU) 2016/1052 as of 8 March 2016.
The volume under the Buyback Program II amounts to up to 4 million shares to be repurchased. The Buyback Program II 2023 is planned to commence on Monday, 2 October 2023, and to last until (and including) Tuesday, 1 October 2024 at the latest. The safe-harbor rule (Art 5 Market Abuse Regulation) will be applied to the buy-back program. Repurchases of shares may be made up to a price cap of EUR 23.00 per share, which has been increased in comparison to the Buyback Program I 2023. This corresponds to the increased earnings forecast of Kontron. In addition, the purchase price may not range more than 10% below or above the average Kontron share price of the last 5 trading days in XETRA trading. The maximum envisaged amount to be utilized by Kontron AG under the Buyback Program II 2023 is EUR 70 million.
Details on the Buyback Program II 2023 as well as the further terms to be applied, details on transactions made under the Buyback Program II 2023 as well as amendments, if any, will be published on the website of Kontron AG under: https://ir.kontron.com/Share_buyback_program_II_2023.en.html
This announcement is no public offer for the purchase of shares of Kontron AG and does not impose any obligations for Kontron AG or any of its subsidiaries to accept any offers to repurchase shares of Kontron AG.
About Kontron
Kontron AG (www.kontron.com, ISIN AT0000A0E9W5, WKN A0X9EJ, KTN) is a leading IoT technology company. For more than 20 years, Kontron has been supporting companies from a wide range of industries to achieve their business goals with intelligent solutions. From automated industrial operations, smarter and safer transport to advanced communications, medical and energy solutions, the company delivers technologies that add value for its customers. Kontron is listed on the SDAX® and TecDAX® of the German Stock Exchange and has around 4,500 employees with subsidiaries in more than 20 countries around the world.
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Media Contact
Barbara Jeitler
Kontron AG – Investor Relations
Tel: +43 (1) 80191 1199
ir@kontron.com
Alexandra Kentros
Kontron AG - Communications
Tel: +49 151 151 9388 149
group-pr@kontron.com
Jan Lauer
Profil Marketing OHG
Tel: +49 (531) 387 33-18
kontron@profil-marketing.com
All rights reserved. Kontron is a trademark or registered trademark of Kontron AG. All data is for information purposes only and not guaranteed for legal purposes. Information in this press release has been carefully checked and is believed to be accurate; however, no responsibility is assumed for inaccuracies.
End of Inside Information
27-Sep-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Kontron AG |
| Industriezeile 35 | |
| 4021 Linz | |
| Austria | |
| Phone: | +43 (732) 7664 - 0 |
| E-mail: | ir@kontron.com |
| Internet: | https://www.kontron.com |
| ISIN: | AT0000A0E9W5 |
| WKN: | A0X9EJ |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; BX, Vienna Stock Exchange (Vienna MTF) |
| EQS News ID: | 1735909 |
| End of Announcement | EQS News Service |
1735909 27-Sep-2023 CET/CEST