Gränichen/Switzerland, 20 October 2016 – The Zehnder Group is conducting a further public share repurchase of up to 250,000 listed registered shares A. The repurchased shares will be used for future employee participation programmes and acquisitions.
The Board of Directors of the Zehnder Group has resolved to conduct a public share repurchase programme at a fixed price from 24 October 2016 to 4 November 2016, until 17.00 p.m. The Zehnder Group intends to acquire a maximum of 250,000 listed registered shares A with a nominal value of CHF 0.05 each. This corresponds to 2.13 % of the capital or 1.27 % of the voting rights.
The repurchase price offered is CHF 41.50, which corresponds to a premium of 2.60 % compared to the closing price on 19 October 2016. If the number of category A registered shares tendered for repurchase exceeds the maximum number of registered shares A that are to be repurchased as part of the repurchase offer, the Zehnder Group will reduce the shares offered on a pro rata basis. The repurchase price is to be paid and the shares transferred on 8 November 2016.
Shareholders who wish to take up the repurchase offer are asked to proceed according to the instructions from their depositary bank. Tendered shares will be blocked by the relevant depositary bank and, once tendered, cannot be traded anymore.
The Zehnder Group has commissioned the Zürcher Kantonalbank to conduct the repurchase. Further information about the fixed-price offer can be found on the Zehnder Group website.
The Zehnder Group last bought back 220,000 registered shares A with a public share repurchase in October 2015. The majority of these were used for the acquisition of the Canadian company dPoint Technologies Inc. in December 2015.
Next dates to note
Announcement of sales for 2016: 13 January 2017
Annual results 2016 and Media/Analyst Conference: 3 March 2017
Annual General Meeting 2017: 6 April 2017