Ad-hoc release
Ad hoc release: GEA announces share buyback program in the amount of up to EUR 300 million
12 Aug 2021
The Executive Board of GEA Group Aktiengesellschaft resolved today that the Company will acquire own GEA shares with a value of up to EUR 300 million (excluding incidental expenses) via the stock exchange using the authorisation granted by the Annual General Meeting on April 19, 2018.
Based on the current share price level (as of August 12, 2021, XETRA closing price) this would be approx. 7.9 million of the company's own shares (corresponding to approx. 4.4% of the current share capital). The program is scheduled to start in August
2021 and to be completed by the end of 2022. Up to EUR 150 million of the mentioned total value is to be used within the first six months.
The shares acquired may be used for any purpose approved by the Annual General Meeting on April 19, 2018, in particular as acquisition currency or as scrip dividends. Currently it is not intended to cancel the repurchased shares.
The Company will provide regular information on the progress of the share buyback program on its website www.gea.com.
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GEA Group Aktiengesellschaft
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About GEA
GEA is one of the world’s largest suppliers of systems and components to the food, beverage and pharmaceutical industries. The international technology group, founded in 1881, focuses on machinery and plants, as well as advanced process technology, components and comprehensive services.
