Dear Friends & Shareholders of flatexDEGIRO,
We have just published the following press release (Link) and ad hoc notification (Link) regarding the launch of our share buyback program. The announcement is copied below for easier access. The share buyback program encompasses a maximum value of up to EUR 50 million and will be executed during the period commencing on October 1, 2024, and ending no later than May 7, 2025. Based on today’s XETRA closing price of EUR 12.85, the maximum buyback value equates to approx. 3.5 % of flatexDEGIRO’s current market capitalization.
In case you have any further questions, please reach out to us.
Best regards,
Achim & Laura
::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
The Management Board of flatexDEGIRO AG (“Company”), in coordination with the Supervisory Board of the Company, today resolved to implement a share buyback program. The request for approval submitted to the German Federal Financial Supervisory Authority (BaFin) has been granted (see also the ad hoc announcement dated July 22, 2024). The share buyback program encompasses a maximum of 11,003,254 shares with a maximum value of up to EUR 50 million (excluding ancillary costs). The share buyback program will commence on October 1, 2024, and end no later than May 7, 2025.
flatexDEGIRO has mandated an investment bank to execute the share buyback program, which makes its decisions on the timing of the acquisition of the shares independently and uninfluenced by the Company. flatexDEGIRO AG's right to terminate or suspend the investment bank's mandate prematurely remains unaffected.
The share buyback program will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Regulation (EU) No 596/2014 of the European Parlia-ment and of the Council of 16 April 2014 on market abuse (“EU Market Abuse Regulation”) and its Commission Delegated Regulation (EU) No 2016/1052 (the “Delegated Regulation”).
The program is undertaken pursuant to the authority granted by shareholders to the flatexDEGIRO Management Board at the Annual General Meeting held on June 4, 2024, to repurchase up to a maximum of 10% of the Company’s issued share capital. The treasury shares are acquired by the Company for all legally permissible purposes. The share buyback program can be suspended and resumed at any time, if necessary and legally permissible.
Dr. Benon Janos, Co-CEO and CFO of flatexDEGIRO AG: “With the launch of our share buyback program we deliver on our capital allocation strategy that we outlined last year. This underlines our financial strength and our focus on creating value for our shareholders.”
Detailed information on the share buyback program will be made available in a timely manner, including on flatexDEGIRO’s Investor Relations website.
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.
|
|
