MAINTAL (dpa-AFX) - The 1&1 Drillisch said that its Management Board has decided to carry out a share repurchase programme. Within the scope of the share repurchase programme, up to 2 million shares of the Company's stock (corresponding to about 1.13% of the share capital) will be repurchased. This corresponds to a transaction volume of about EUR80 million.
The programme will be conducted in the form of the repurchase of shares on the stock exchange. This programme is the exercise by 1&1 Drillisch AG of the authorisation granted by the Extraordinary General Meeting on 12 January 2018. Pursuant to this authorisation, the Company is authorised to repurchase shares on the stock exchange in an amount totalling no more than 10% of the share capital at the time of the adoption of the resolution or -if this value is lower - at the time of the exercise of the authorisation; this authorisation expires on 11 January 2023.
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