EQS-CMS: TAKKT AG Announces Share Buyback Program Progress
In a recent announcement made by TAKKT AG, the Company has disclosed updates concerning its ongoing share buyback program. This report comes as a critical update to shareholders and participants in the capital markets, underlining TAKKT AG’s continuing efforts to manage its capital efficiently and foster shareholder value.
Share Buyback Program Overview
The latest communication from TAKKT AG details the transactions executed under its share buyback initiative from February 12, 2024, to February 16, 2024. A total of 11,241 shares were reacquired during this period. The initiation of the share buyback program was formally announced on October 5, 2022, in accordance with Art. 5 par. 1 lit. a) of Regulation (EU) 596/2014 and Art. 2 par. 1 of the Delegated Regulation (EU) 2016/1052. Furthermore, an extension to the program was officially communicated on June 27, 2023, ensuring compliance with the same regulatory stipulations.
Regulatory Compliance
TAKKT AG’s share buyback scheme adheres strictly to regulatory guidelines laid out under Art. 5 par. 1 b) and par. 3 of the Regulation (EU) No. 596/2014, in conjunction with Art. 2 par. 2 and par. 3 of the Delegated Regulation (EU) No 2016/1052. The purpose of these regulations is to ensure transparency and fairness in the conduct of share buybacks, protecting investors and maintaining the integrity of the capital markets.
Transactions and Details
Detailed transaction records related to the share buyback are publicly accessible. These records provide an exhaustive account of the buyback activities, ensuring transparency and accountability in line with regulatory requirements and best practices. Since the inception of the share buyback program on October 6, 2022, up to and including February 16, 2024, TAKKT AG has repurchased a total of 881,993 shares.
Execution Strategy
The strategy for executing the share buyback program involves the acquisition of TAKKT AG shares exclusively through stock exchange transactions. This approach is taken to ensure that the buyback occurs under conditions that do not disadvantage the shareholders and are in strict compliance with market abuse regulations. TAKKT AG has entrusted the execution of these transactions to a designated credit institution, which operates under direct instructions from the Company.
Conclusion
TAKKT AG’s ongoing share buyback program underlines the Company’s commitment to managing its capital efficiently and enhancing value for its shareholders. Through strategic stock repurchases, TAKKT AG continues to signal its confidence in the intrinsic value of the Company and its long-term growth prospects. The meticulous adherence to regulatory guidelines and transparency in the execution of the program further emphasizes TAKKT AG’s dedication to good corporate governance and responsible capital management.
As the program progresses, TAKKT AG remains focused on leveraging its resources to drive sustainable growth, while keeping the interests of its shareholders at the forefront of its strategic decisions.
