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CANCOM SE / Key word(s): Share Buyback
CANCOM SE: CANCOM decides to buy back shares
Munich, Germany, 11 October 2021 - The Executive Board of CANCOM SE today resolved, with the consent of the Supervisory Board, to make use of the authorisation granted at the Annual General Meeting on 26 June 2019 to acquire treasury shares in accordance with section 71 (1) no. 8 of the German Stock Corporation Act (AktG) and to acquire up to 3,504,363 treasury shares (up to 10 percent of the share capital existing at the time of the authorisation resolution) and thus up to a total of approximately 9.09 percent of the current share capital in the period from 20 October 2021 to 19 October 2022 at the latest. No treasury shares have been acquired on the basis of this authorisation to date.
The shares are to be acquired via the stock exchange. The purchase price per share paid by the Company (excluding ancillary acquisition costs) may not be more than 10 percent higher or lower than the arithmetic mean of the closing auction prices for CANCOM SE shares in XETRA trading (or a comparable successor system) on the Frankfurt Stock Exchange on the last three trading days before the purchase.
The share buyback will be conducted under the guidance of an independent credit institution in accordance with the safe harbour provisions of Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 in conjunction with the provisions of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. The appointed credit institution will make its decisions regarding the timing of the share purchase independently of and without influence by CANCOM SE.
It is intended to use the acquired shares for all legally permissible purposes. The shares may also be cancelled.
All transactions, once executed, are disclosed weekly on the Company's website at https://www.cancom.de under the section "Investors".
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11-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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