Linz (pta029/27.10.2020/16:16) - S&T AG resolves to on new buyback program II 2020 for own Shares
On 27 October 2020, the Executive Board of S&T AG (www.snt.at) resolved on conducting a new buyback program for own shares ("Buyback Programme II 2020") in accordance with § 65 para. 1 no. 8 of the Austrian Stock Corporation Act (AktG) by utilizing the authorization granted by the extraordinary shareholder meeting on 15 January 2019, which was published on 15 January 2019 via an electronic information dissemination system.
The repurchase of shares under the Buyback Programme II 2020 will be made for the account of S&T AG and managed by a credit institution that resolves upon the purchase timing independently from the company and will conduct the share buyback under the Buyback Programme II 2020 in accordance with the provisions set forth in article 3 of the Delegated Regulation (EU) 2016/1052 as of 8 March 2016.
The volume amounts to up to 1,000,000 shares to be bought back. The Buyback Programme II 2020 is planned to commence on Friday, 30 October 2020, and to last until 30 April 2021 at the latest. Repurchases of shares may be made up to a price cap of EUR 20.00 per share as well as up to a a maximum purchase price ranging 10% above the average S&T share price of the last 5 trading days in XETRA trading. The maximum amount to be utilized by S&T AG under the Buyback Programme II 2020 is EUR 20 million.
Details on the Buyback Programme II 2020 as well as the further terms to be applied, details on transactions made under the Buyback Programme II 2020 as well as amendments, if any, will be published on the company's website under: [ https://ir.snt.at/Share_buyback_program_II_2020.en.html ]
This publication is no public offer for the purchase of securities of S&T AG and does not impose any obligations for the company or any of its subsidiaries to accept any offers to repurchase S&T AG shares.
The Executive Board of S&T AG(end)