The Management Board of CA Immobilien Anlagen AG has initiated a share buyback program.
According to CA Immo, the volume of the buyback program, which was initiated in accordance with Article 65 para 1 no. 8 of the Austrian Corporation Act, on the basis of the authorizing resolution of the 36th Annual General Meeting on May 4, 2023, totals up to 1,869,606 shares (representing approx. 1.76% of the current share capital of the company). The share buyback program foresees share purchases via the stock exchange, with terms and conditions following the authorization. In particular, according to CA Immo, “the lowest amount payable on repurchase must not be less than 30% and must not exceed 10% of the average unweighted price at the close of the market on the ten trading days preceding the repurchase. The maximum amount payable shall not be higher than the most recently published IFRS NAV per share.”
The share buyback program is expected to start on November 28, 2024 at the earliest, and will end no later than November 3, 2025. According to CA Immo, “a general key objective of the share buyback is to increase the shareholder value of the Company. CA Immobilien Anlagen AG currently holds around 8.78 million treasury shares, representing approx. 8.24% of the current share capital of the company.”
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