Westwing Group SE: Share buyback approved
Westwing Group SE / Key word(s): Share Buyback
Munich, April 24, 2023 // - The Management Board of Westwing Group SE has decided today, with the approval of the Supervisory Board, to buy-back up to a maximum of 600,000 shares of the Company (this equals up to approximately 2.87% of today’s share capital) at a total maximum aggregate purchase price without ancillary costs of up to EUR 3.0 million in the period from April 26, 2023 to October 31, 2023.
The share buyback is based on the authorization of the Annual General Meeting of August 5, 2021.
If the treasury shares are purchased on the stock exchange, the purchase price per share (excluding incidental costs) may not be more than 10% higher or lower than the price of a share of the Company determined by the opening auction in Xetra trading on that trading day (in Frankfurt am Main).
The purchased shares can be used in general for the purposes as set out in the authorization granted by the Annual General Meeting as of August 5, 2021 and shall be used in particular for existing and future employee participation programs.
The share buyback will be carried out by an independent credit institution and in accordance with the Safe Harbor Rules defined under Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council dated April 16, 2014 (Market Abuse Regulation), in conjunction with the provisions of the Delegated Regulation (EU) 2016/1052 of the Commission dated March 8, 2016. The independent credit institution shall decide about the timing of the share purchase independent of and uninfluenced by Westwing Group SE, even if shares in the Company are to be repurchased during a Closed Period within the meaning of Article 19 para. 11 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014, or during a period in which the Company has decided to postpone the disclosure of inside information pursuant to Article 17 (4) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of April 16, 2014. All transactions are posted weekly on the company's website after their execution (www.ir.westwing.com) in the Investor Relations section.
The Company reserves the right to suspend or end the share buyback program. Westwing Group SE currently holds 556,198 own shares. This corresponds to around 2.66% of today´s share capital.
Westwing Group SE
Certain statements in this communication may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties. You should not rely on these forward-looking statements as predictions of future events and the Company undertakes no obligation to update or revise these statements. The Company's actual results may differ materially and adversely from any forward-looking statements discussed in this press release due to a number of factors, including without limitation, risks from macroeconomic developments, external fraud, inefficient processes at fulfillment centers, inaccurate personnel and capacity forecasts for fulfillment centers, hazardous material / conditions in production with regard to private labels, lack of innovation capabilities, inadequate data security, lack of market knowledge, risk of strike and changes in competition levels.
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|Company:||Westwing Group SE|
|Moosacher Straße 88|
|Fax:||+49 (89) 550 544 445|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1615385|
|End of Announcement||EQS News Service|