Instone Real Estate Group SE / Key word(s): Share Buyback
Instone Real Estate Group SE announces share buyback programme of up to EUR 50 million (maximum of 5% of the share capital)
Essen, 10 February 2022: With the approval of the Supervisory Board, the Management Board of Instone Real Estate Group SE (Instone) has decided today to start a share buyback programme following the publication of the full year 2021 financial results.
Instone Real Estate Group SE is thus making use of the authorisation granted by the Annual General Meeting on 13 June 2019. This is the first share buyback programme to be executed based on this authorisation. The planned scope of the share buyback programme comprises a volume of up to EUR 50 million, but no more than 5.0 percent of the current share capital, i.e. up to 2.349 million shares.
According to the relevant authorisation the Management Board may use the treasury shares for any legally permissible purpose. Management intends to use the treasury shares primarily to finance future growth investments.
The purchase will be executed via stock exchange.
The share buyback programme is limited to the period from 18 March 2022 to 31 December 2022. Instone Real Estate Group SE reserves the right to discontinue the share buyback programme at any time.
The share buyback will be guided by the provisions of Regulation (EU) no. 596/2014 and Commission Delegated Regulation (EU) no. 2016/1052. Instone will regularly report on the progress of the share buyback on its Investor Relations website.
The Management also confirms the financial forecast for the fiscal years 2021 and 2022.
|Company:||Instone Real Estate Group SE|
|Phone:||+49 201 453 550|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1279349|
|End of Announcement||DGAP News Service|