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GEA Group Aktiengesellschaft: GEA announces share buyback program in the amount of up to EUR 300 million

·2-min read

GEA Group Aktiengesellschaft / Key word(s): Share Buyback
GEA Group Aktiengesellschaft: GEA announces share buyback program in the amount of up to EUR 300 million

12-Aug-2021 / 21:09 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Ad hoc release: GEA announces share buyback program in the amount of up to EUR 300 million

The Executive Board of GEA Group Aktiengesellschaft resolved today that the Company will acquire own GEA shares with a value of up to EUR 300 million (excluding incidental expenses) via the stock exchange using the authorisation granted by the Annual General Meeting on April 19, 2018.

Based on the current share price level (as of August 12, 2021, XETRA closing price) this would be approx. 7.9 million of the company's own shares (corresponding to approx. 4.4% of the current share capital). The program is scheduled to start in August 2021 and to be completed by the end of 2022. Up to EUR 150 million of the mentioned total value is to be used within the first six months.

The shares acquired may be used for any purpose approved by the Annual General Meeting on April 19, 2018, in particular as acquisition currency or as scrip dividends. Currently it is not intended to cancel the repurchased shares.

The Company will provide regular information on the progress of the share buyback program on its website www.gea.com.




Contact:
GEA Group Aktiengesellschaft
Oliver Luckenbach
Head of IR
Phone +49 (0)211 9136 1080
Fax +49 (0)211 9136 31087
oliver.luckenbach@gea.com

12-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

GEA Group Aktiengesellschaft

Peter-Müller-Straße 12

40468 Düsseldorf

Germany

Phone:

+49 (0)211 9136-0

Fax:

+49 (0)211 9136-31087

E-mail:

ir@gea.com

Internet:

www.gea.com

ISIN:

DE0006602006

WKN:

660200

Indices:

MDAX

Listed:

Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange

EQS News ID:

1226241


 

End of Announcement

DGAP News Service

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