Aurubis AG passes resolution to purchase a volume of up to € 200 million of its own shares
Hamburg | Wednesday, March 18, 2020
- Strong equity ratio and good liquidity position enable buyback of up to 10 % of company’s own shares
- Setup of another option for future acquisitions or financing
Today, the Executive Board of Aurubis AG passed a resolution on a share buyback program. The company’s own shares are being purchased on the basis of the authorization issued by the shareholders represented at the Annual General Meeting on March 1, 2018.
Based on its strong balance sheet position and its good liquidity situation – with an equity ratio of more than 50 % – Aurubis aims to purchase up to 10 % of the existing share capital (i.e., up to 4,495,672 company shares) in several tranches via the stock market, up to a total purchase price of € 200 million (excluding incidental acquisition costs). In light of the current market situation, Aurubis AG intends to purchase 3 % of the shares in the amount of up to € 60 million in the first tranche.
This will not affect Aurubis AG’s dividend policy. The buyback program shall begin on March 19, 2020 and conclude at the end of September 17, 2021 at the latest. The company’s purchase of its own shares serves to create treasury stock for possible acquisitions or future financing needs.
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Vice President Investor Relations & Corporate Communications
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