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PVA TePla AG
Transaction in Own Shares • Nov 22, 2024
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Transaction in Own Shares
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Ad-hoc | 22 November 2024 08:12
PVA TePla AG launches share buyback program to support strategic acquisitions and long-term compensation plans
PVA TePla AG / Key word(s): Share Buyback
PVA TePla AG launches share buyback program to support strategic acquisitions and long-term compensation plans
22-Nov-2024 / 08:12 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.
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.
Contact:
Dr. Gert Fisahn
Investor Relations
PVA TePla AG
Tel: +49(0)641/68690-400
End of Inside Information
22-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | PVA TePla AG |
| Im Westpark 10-12 | |
| 35435 Wettenberg | |
| Germany | |
| Phone: | 0641/686900 |
| Fax: | 0641/68690800 |
| E-mail: | [email protected] |
| Internet: | www.pvatepla.com |
| ISIN: | DE0007461006 |
| WKN: | 746100 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2036113 |
| End of Announcement | EQS News Service |