freenet AG / Key word(s): Share Buyback
Disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014
freenet AG resolves a share buyback program for up to EUR 100 million
Büdelsdorf, 31 August 2020 - With the approval of the Supervisory Board, the Management Board of freenet AG [ISIN DE000A0Z2ZZ5] today decided to launch a share buyback program. Within the scope of this share buyback program, up to 5 million shares of the company (corresponding to approx. 3.90 per cent of the share capital of EUR 128,061,000) are to be bought back via the stock exchange. The total volume of the share buyback program is up to EUR 100 million. The program is scheduled to begin on 1 September 2020, and will run until 31 December 2020, at the latest.
Thus, freenet AG is making use of the authorization granted by the Annual General Meeting on May 27, 2020, according to which up to 10 per cent of the company's share capital existing at the time of the resolution or, if this value is lower, at the time the authorization is exercised, may be repurchased until May 26, 2025. No use has been made of this authorization to date. The Company currently holds 50,000 treasury shares (approx. 0.04 per cent of the share capital).
The repurchased shares are to be cancelled and the share capital reduced.
The share buyback will be carried out in accordance with the provisions of Regulation (EU) No. 596/2014 and Delegated Regulation (EU) 2016/1052 of the Commission. Further details will be published before the share buyback program begins. freenet AG reserves the right to stop the share buyback program at any time.
Investor Relations & ESG
|Phone:||+49 (0)40 51306-778|
|Fax:||+49 (0)40 51306-970|
|WKN:||A0Z2ZZ , A1KQXU|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1125653|
|End of Announcement||DGAP News Service|