EQS-Adhoc: PVA TePla AG launches share buyback program to support strategic acquisitions and long-term compensation plans

PVA TePla AG AG launches share buyback program to support strategic acquisitions and long-term compensation plans

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Today, the management board of PVA TePla AG (“PVA” or “Gesellschaft”) (ISIN: DE0007461006 / WKN: 746100) approved, with the consent of the supervisory board, a share buy-back program. The shares acquired as part of the share buy-back program shall be used for mergers, acquisitions or participations to strengthen the Company's competitive position (acquisition purposes) and for the issuance to management board members, executives and employees as part of long-term remuneration models (remuneration purposes).

The Company intends to buy back its treasury shares on the stock exchange in the period from 22 November 2024 to 31 December 2025, based on the authorisation of the annual general meeting of 28 June 2023. Up to 2,174,998 shares (10% of the share capital) shall be acquired at a total purchase price of up to EUR 30 million (excluding transaction costs). The buyback will be carried out by a bank according to a predefined program. The Company reserves the right to amend, suspend, resume or terminate the buyback of its shares at any time.

The share buyback will be based on the provisions of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014, last amended on 13 December 2023, and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. 

Important note

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction. 

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2036113  22-Nov-2024 CET/CEST