MS Industrie AG commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on June 28, 2017.
September 15, 2019
Share
MS Industrie AG (XTRA:MSAG) commences share repurchases on September 16, 2019, under the program mandated by the shareholders in the General Meeting held on June 28, 2017. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The repurchased shares will be used for the employee participation programs and/or as consideration for investment in other companies and/or any other legally permissible purposes. The authority shall be valid till June 27, 2022.
On September 4, 2019, the company announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares, representing 0.83% of its issued share capital. The shares will be repurchased at a price not exceeding the opening auction price on the stock exchange by more than 10% and at a price not less than 20% of the opening auction price determined by the stock exchange. The program will expire on December 31, 2020.
MS Industrie AG, formerly GCI Industrie AG, is a Germany-based industrial technology company that operates through two segments: Powertrain Technology and Ultrasonic Technology. The Powertrain Technology segment manufactures systems and components for heavy-duty diesel engines, automotive components and systems, and customized electric motors. The Ultrasonic Technology segment provides various ultrasonic solutions, including machines for fully integrated processing of plastic parts, such as fenders, door panels, instrument panels, as well as engine and luggage compartment covers for automotives, generators, sonotrodes and ultrasonic systems for welding, sealing, cutting, slitting and punching of film, paper, tissue, nonwovens or filter material. It serves customers from the commercial vehicle and passenger car industry, packaging machine industry and general mechanical and plant engineering. The Company operates sites in Germany, Bulgaria, the United States, Brazil and China.
MS INDUSTRIE AG 
