Grevenmacher / Luxembourg - The Board of Directors of LOGWIN AG decided today to implement a share buy-back. Up to 50,000 shares of LOGWIN AG (approx. 1.7% of the share capital) are to be repurchased at a total purchase price (excluding incidental acquisition costs) of up to EUR 8.0 million, depending on which value will be reached earlier. The shares are to be acquired via the stock exchange (XETRA). The repurchased shares are to be used solely for the purpose of cancellation and capital reduction.
The share buy-back program is based on the authorization granted by the Annual General Meeting on April 10, 2019 to acquire up to 288,000 own shares of the company by April 10, 2024 for all legally permissible purposes for the company.
The share buy-back will start on March 18, 2020 and will be completed at the latest on February 28, 2022.
The buy-back will be carried out on the stock exchange (XETRA) in accordance with the safe harbour regulations pursuant to Art. 5 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 and Delegate Regulation (EU) 2016/1052 of the Commission of 8 March 2016 and in line with the authorization of the Company's Annual General Meeting of 10 April 2019. The share buy-back will be carried out by an independent credit institute which will decide on the exact time of purchases of the Company's shares independently and not influenced by the Company during the aforementioned period. The credit institution is obliged to comply with the trading conditions of Art. 3 of Delegate Regulation (EU) 2016/1052 and the requirements applicable to the share buyback.
The price per share paid by Logwin AG (excluding incidental acquisition costs) may not exceed the average market price of the company's shares in the closing auction in the XETRA trading system of the Frankfurt Stock Exchange during the last 10 trading days prior to the acquisition by more than 30 % and may not fall below the calculated nominal value of the share. In addition, the Company will not acquire more than 25% of the average daily share turnover on any one trading day on the trading venue on which the purchase is effected. The average daily share turnover is calculated on the basis of the average daily trading volume during the 20 trading days preceding the respective purchase date.
Information on the transactions related to the share buy-back will be published in a manner complying with the requirements of Art. 2 of Delegate Regulation (EU) 2016/1052 no later than on the seventh trading day after the exercise of a transaction and made available on the Company's website at https://www.logwin-logistics.com/company/investors/share/share-buyback-program.html.
Person making the notification: Sebastian Esser, Member of the Board of Directors (Chief Financial Officer)
