ad pepper media International N.V. adopts share buy-back resolutionBack to overview
Nuremberg, Amsterdam,19 October 2020
With the approval of the Supervisory Board, the Management Board of ad pepper media International N.V. (“ad pepper“ or the “Company”) resolved today, to partially use the share buy-back authorisation granted by the last ordinary Annual General Meeting. On 19 May 2020, the Annual General Meeting of ad pepper authorized the Company to repurchase shares in the Company’s capital up to a maximum amount of 50 percent of the Company’s issued share capital. Following the withdrawal of shares in August 2019, the issued share capital of ad pepper consists of 21,500,000 shares.
The Company intends, to acquire up to a maximum of 500,000 of its own shares in the period from 19 October 2020 to 19 November 2021 for a total maximum amount (excluding incidental acquisition costs) of up to EUR 2,250,000. The repurchased shares will be used exclusively in order to (i) meet the Company’s obligations under the Company’s stock option plans by way of transfer of the shares to option holders for the exercise of their option rights and/or (ii) reduce the capital of the Company.
The share buy-back will be carried out by a financial service institution acting independently from the Company. The financial service institution will purchase the shares on the open market through trading venue Xetra, operated by the Frankfurt Stock Exchange, and the share buy-back will comply with the Regulation (EU) No. 596/2014 (“Market Abuse Regulation”) and with Articles 2 to 4 of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (“Delegated Regulation”). In accordance with the agreement with the Company, the financial service institution is obliged, to comply with the requirements of the safe harbour regulations of Article 5 of the Market Abuse Regulation in conjunction with the Delegated Regulation. The financial service institution will decide independently when to repurchase shares and on each occasion how many shares to acquire, subject to the Market Abuse Regulation and the Delegated Regulation. The Company will have no influence over these decisions.
All transactions will be announced in a form that meets the requirements of Article 5 paragraph 3 of the Market Abuse Regulation in conjunction with Article 2 paragraphs 2 and 3 of the Delegated Regulation no later than the end of the seventh trading day after execution. Details of the transactions will also be published on the Company’s website.
For more information:
Dr Jens Körner (CEO)
ad pepper media International N.V.
+49 (0) 911 929057-0