Scout24 SE / Key word(s): Share Buyback
Scout24 SE resolves a share buyback program with a volume of up to 350 million Euros and a capital decrease by cancellation of shares
Today, the Management Board of Scout24 SE, with the approval of the Supervisory Board, has decided to repurchase own shares with a total volume of up to 350 million Euros in one or several independent tranches via the stock exchange. In this respect, the Company makes use of the authorization granted by the Annual General Meeting 2021, and the renewal of this authorization shall be proposed to the Annual General Meeting scheduled for June 2022. The share buyback shall start in March 2022 and is expected to end prior to the Annual General Meeting 2023 at the latest.
In addition, excess cash shall be distributed through further share buybacks in the future. The current dividend strategy will be maintained.
Furthermore, the Management Board, with the approval of the Supervisory Board, has decided to cancel 3,400,000 of the 3,542,904 treasury shares held so far. It hereby makes use of the authorizations granted by the Annual General Meeting for the use of treasury shares in the form of a capital decrease by cancellation of treasury shares of the Company. Accordingly, the share capital of Scout24 SE is reduced from 83,600,000 to now 80,200,000 shares.
Further details will be released in the course of March 2022 before the start of the share buyback program. Scout24 SE reserves the right to discontinue the share buyback program at any time.
The Management Board
Notifying Person and Investor Relations
|Phone:||+49 89 262 02 4939|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1290439|
|End of Announcement||DGAP News Service|