DGAP-News: Rocket Internet SE / Key word(s): Share Buyback
Rocket Internet SE announces share buy-back program for a maximum of up to 100 million Euro
- Share buy-back program of a maximum of up to 3.03% of Rocket Internet's outstanding share capital with a maximum consideration of up to 100 million Euro
- Program to be executed commencing August 14, 2017 and ending April 30, 2018
Berlin, August 14, 2017 - The Management Board of Rocket Internet SE ("Rocket Internet"), with consent of the Supervisory Board, has resolved to carry out a share buy-back program with a total maximum consideration (excluding ancillary costs) of up to 100 million Euro and a maximum volume of up to 5,000,000 shares, representing a maximum of up to 3.03% of the outstanding share capital of Rocket Internet (the "Share Buy-Back Program"). The buy-back will be executed via Xetra trading on the Frankfurt Stock Exchange and will begin on August 14, 2017 and end on April 30, 2018. The repurchased shares are intended to be redeemed, and Rocket Internet's share capital is intended to be reduced accordingly.
The Share Buy-Back Program will be carried out based on the authorization of the Annual General Meeting of June 2, 2017. Under this authorization, Rocket Internet SE is authorized to acquire own shares until June 1, 2022 in an amount of up to 10% of the share capital of Rocket Internet at the time of the resolution or - if this value is lower - at the time of the exercise of the authorization. If the shares are repurchased over the stock exchange, the purchase price per share (excluding ancillary costs) may not exceed or be less than 10% of the price of a share of Rocket Internet in Xetra trading (or a corresponding successor system) ascertained by the opening auction on the trading day.
The Share Buy-Back Program will be executed by an international credit institution and in accordance with Art. 5 of Regulation (EU) No 596/2014 of the European Parliament and the Council of April 16, 2014 as well as the provisions of Delegated Regulation (EU) 2016/1052 of the Commission of March 8, 2016 (Safe Harbour regulations).
"We use our strong cash position to repurchase own shares", says Oliver Samwer, CEO Rocket Internet. "The Share Buy-Back Program underlines our aim to allocate capital most efficiently."
To the extent required and legally permissible, the Share Buy-Back Program can be suspended and also resumed at any time. Rocket Internet will give regular updates about the execution of the Share Buy-back Program on its website under the section Investors/Share.
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About Rocket Internet
Disclaimer / Important Note
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Rocket Internet SE and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations and competition from other companies, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. Rocket Internet does not assume any obligations to update any forward-looking statements.
|Company:||Rocket Internet SE|
|Phone:||+49 (0)30 300 13 1800|
|Fax:||+49 (0)30 300 13 1899|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxemburg|
|End of News||DGAP News Service|