Bremen, 6 July 2020. The Management Board of Energiekontor AG decided today, with the approval of the Supervisory Board, to make use of the authorization to acquire own shares pursuant to § 71 (1) No. 8 of the German Stock Corporation Act (AktG), as resolved at the Annual General Meeting of 20 May 2020, and to acquire up to 300,000 shares from 7 July 2020 until 30 June 2021 at the latest, whereby the buyback is limited to such number of shares or to a total purchase price of a maximum of EUR 9,000,000.
The acquisition is to take place via the stock exchange. The equivalent value per share paid by the Company (excluding ancillary acquisition costs) may not be more than 10% higher or lower than the average closing price for shares with the same features during the last three stock exchange trading days prior to the acquisition.
The repurchase shall be conducted by an investment firm or a credit institution in accordance with the safe harbour provisions of Article 5 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of April 16, 2014 in conjunction with the provisions of Commission Delegate Regulation (EU) 2016/1052 of March 8, 2016. The commissioned investment firm or credit institution shall make its decisions on the time of the acquisition of shares independently and uninfluenced by Energiekontor AG.
It is intended to use the acquired shares for all legally permissible purposes.
All transactions will be announced weekly after their execution on the Company's website (www.energiekontor.de) in the Investor Relations section.