Rocket Internet has resolved to carry out a share buy-back program of up to 100 million Euro and a maximum volume of up to 5,000,000 shares, representing a maximum of up to 3.03%.
The buy-back will be executed via Xetra trading on the Frankfurt Stock Exchange and will begin on August 14, 2017 and end on April 30, 2018. The repurchased shares are intended to be redeemed, and Rocket Internet’s share capital is intended to be reduced accordingly.
”We use our strong cash position to repurchase own shares“, says Oliver Samwer, CEO Rocket Internet. ”The Share Buy-Back Program underlines our aim to allocate capital most efficiently.“
The Share Buy-Back Program will be carried out based on the authorization of the Annual General Meeting of June 2, 2017. Under this authorization, Rocket Internet SE is authorized to acquire own shares until June 1, 2022 in an amount of up to 10% of the share capital of Rocket Internet at the time of the resolution or – if this value is lower – at the time of the exercise of the authorization.
