DGAP-News: Scout24 AG / Key word(s): Share Buyback
Scout24 AG successfully completes public repurchase offer at a buyback volume of EUR 794.2 million
Scout24 AG has successfully completed its public repurchase offer. During the acceptance period from 1 April 2021 to
The payment of the offer price and the derecognition of the tendered shares from the respective securities accounts is scheduled as per value date 23 April 2021. The redemption of the repurchased shares will take place without undue delay.
"With the announced tender result we have successfully achieved the most important milestone of our capital return roadmap. We are very pleased with the acceptance rate of 81.6% in a highly flexible transaction structure. We believe that this was in the best interest of all our shareholders and appreciate their support and high level of confidence. We will now swiftly implement and communicate the next step in our capital return programme," says Dirk Schmelzer, CFO of Scout24 AG.
The capital return roadmap was set up in connection with the sale of AutoScout24 in March 2020. According to this, capital of up to EUR 1.69 billion is to be returned to shareholders. With the completion of the public repurchase offer, around EUR 1.28 billion of the plan have been fulfilled. The next measure is a share buyback via the stock exchange of up to EUR 200 million.
The Company will decide in due course on further measures regarding the remaining amount. Irrespective of this, it is planned to propose to the shareholders at the upcoming Annual General Meeting on 8 July 2021 an additional authorisation to buy back shares in the amount of up to 10% of the existing share capital.
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Persons located or resident in the United States or who are acting for the account or benefit of such persons were not eligible to participate in the offer mentioned in this announcement or to exercise the tender rights. Offer documents were not distributed or sent into the United States.
This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities of the Company in the United States of America, Germany or any other jurisdiction.
The information contained in this announcement is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results, including but not limited to the Company's financial position or profitability, to differ materially, also adversely, from those expressed or implied by the forward-looking statements. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this document (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.
|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:||1187334|
|End of News||DGAP News Service|