LOGWIN AG Grevenmacher (Luxembourg) - On November 28, 2014, the Board of Directors of LOGWIN AG has decided to start with a share buyback program. Up to 5,000,000 shares of the company (approx. 3.4 percent of the share capital) will be purchased by LOGWIN AG. The acquisition shall be effected via the stock exchange. The sole purpose of the share buyback will be the redemption and the reduction of the share capital.
The share buyback program is based on the authorization of the Annual General Meeting held on April 9, 2014 to allow the company to buy up to 14,625,000 of its own shares for all legally permitted purposes in the period until September 30, 2015.
The purchase price (excluding related cost of the purchases) shall not exceed by more than 30 percent the average share price in the final auction of XETRA trading system of Frankfurter Wertpapierbörse during the preceding 10 trading days. The purchase price shall not be lower than the calculated nominal value of the LOGWIN AG shares.
The share buyback will start on December 1, 2014 at the earliest, and will be finished by September 30, 2015 at the latest.
The execution of the share buyback will be done in accordance with EC-regulation no. 2273/2003 of the Commission of December 22, 2003 (so called Safe Harbor). The share buyback will be performed by a bank to be mandated by Logwin.
About Logwin AG
Logwin AG (Grevenmacher, Luxembourg) provides efficient logistics and transport solutions for its customers from industry and trade. In 2013, the group generated sales of EUR 1.2bn and currently employs more than 4,300 staff. Logwin operates in all main markets worldwide and has over 200 locations on six continents. With its two business segments Solutions and Air + Ocean, Logwin AG is one of the leaders in the market.
Logwin AG is listed in the Prime Standard of the Deutsche Börse. The majority shareholder is DELTON AG, Bad Homburg (Germany).
Contact:
Sebastian Esser
Chief Financial Officer
Phone: +352 719690-1112
sebastian.esser@logwin-logistics.com
|
distributed by
|
