DGAP-Adhoc: MS Industrie AG: Board of Directors decides upon Share Buyback Program

2019. szeptember 04., szerda, 10:52





DGAP-Ad-hoc: MS Industrie AG / Key word(s): Share Buyback


MS Industrie AG: Board of Directors decides upon Share Buyback Program


04-Sep-2019 / 10:52 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Munich, 04th of September 2019



AD HOC Communication

MS Industrie AG - Board of Directors decides upon Share Buyback Program


Munich, the 04th of September 2019. The Board of Directors of MS Industrie AG (WKN 585518, ISIN DE0005855183) today decided to implement a program to buy back shares of the company. The basis for the share buyback is the authorization of the General Assembly on June 28th, 2017 to acquire the company"s own shares until June 27th, 2022 up to a portion of 10% of the share capital. The Board of Directors plans to acquire up to 250,000 shares (this corresponds to around 0.83% of the current share capital) until December 31st, 2020.



If the shares are acquired via the stock exchange, the equivalent value per share paid by the Company (excluding ancillary expenses) may not exceed the price on XETRA platform of the Frankfurt/Main Stock Exchange determined by the opening auction by more than 10% and may not undercut the same price by more than 20%.



MS Industrie AG currently holds 80,400 own shares. This corresponds to around 0.27% of the share capital.



The own shares can be used for all legally permissible purposes, in particular for existing and future employee participation programs and / or as consideration in the context of investments in other companies.



Background:


MS Industrie AG (WKN: 585518), headquartered in Munich, is the listed parent company of a focused industrial group with the business areas powertrain technology ("Powertrain Technology Group": systems and components for heavy-duty diesel engines and customized electric motors) and ultrasonic technology ("Ultrasonic Technology Group": special machines and ultrasonic systems and components). Key customer industries include the global commercial vehicle and passenger car industry, followed by the packaging machine industry and general mechanical and plant engineering. In 2018, the Group generated sales of around EUR 280 million with over 1,250 employees at eight production sites, four of them in Germany and one each in the USA, Brazil, China and Bulgaria.



Further Information:



MS Industrie AG

Brienner Straße 7

80333 Munich

Tel: 089/20500900

Fax: 089/20500999

Mail: info@ms-industrie.ag

Internet: www.ms-industrie.ag











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Language: English
Company: MS Industrie AG

Brienner Straße 7

80333 München

Germany
Phone: +49 (0) 89 20 500 900
Fax: +49 (0) 89 20 500 999
E-mail: info@ms-industrie.ag
Internet: www.ms-industrie.ag
ISIN: DE0005855183
WKN: 585518
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 868309





 
End of Announcement DGAP News Service




868309  04-Sep-2019 CET/CEST







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