DGAP-News: Godewind Immobilien AG / Key word(s): Share Buyback
Godewind Immobilien AG resolves share buyback programm
Frankfurt am Main, 14 January 2020. The Management Board of Godewind Immobilien AG, Frankfurt am Main (ISIN DE000A2G8XX3) (“Company or Godewind“), today resolved with the approval of the Supervisory Board to launch and implement a share buyback programme under which up to 1,762,500 shares of the Company (equivalent to approximately 1.62 percent of the share capital) are to be repurchased. The maximum volume of the share buyback programme (acquisition costs excluding ancillary acquisition costs) is EUR 8.46 million (based on the closing price of EUR 4.80 as per 14 January 2020). The shares are to be repurchased exclusively via the stock exchange in electronic trading on the Frankfurt Stock Exchange (XETRA trading).
With the share buyback programm the Company is making partial use of the authorization granted by the ordinary shareholders’ meeting on 6 August 2019, according to which up to a total of 10 percent of the Company’s share capital existing at the time the resolution was adopted may be acquired until 5 August 2024. In the case of an acquisition via the stock exchange, the purchase price per share (excluding ancillary acquisition costs) may not exceed or fall short of the price of a share of the Company in XETRA trading (or a comparable successor system) determined by the opening auction on the trading day by more than 10 percent. To date, no use has been made of this authorization. The Company already holds 1.5 million treasury shares.
The repurchased shares may be used for any purpose permitted under the authorization granted by the shareholders’ meeting on 6 August 2019, including (a) the sale of the shares under exclusion of shareholders’ subscription rights against cash payment, provided that the price at which the shares are sold is not significantly lower than the stock exchange price of the Company’s shares in XETRA trading (or a comparable successor system), and (b) against non-cash contributions; the shares may also be redeemed.
The buyback will take place within a period of 16 January 2020 (first possible acquisition day) until 30 April 2020 (last possible acquisition day) at the latest.
Extension of the sound and profitable portfolio with a strong dedication to shareholder value
Based on internal portfolio and asset management, Godewind Immobilien AG will manage commercial properties cost effectively, conclude long-term tenancy agreements and thus increase the value of the company. The company has loss carryforwards for corporation and trade tax and a tax deposit account. The Godewind Immobilien AG share is listed at the highest transparency level of Deutsche Börse AG, Prime Standard, and is traded amongst others in the XETRA market segment of the Frankfurt Stock Exchange (FWB).
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|Company:||Godewind Immobilien AG|
|60329 Frankfurt am Main|
|Phone:||+49 (0) 69 2713973213|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||953551|
|End of News||DGAP News Service|