Zumtobel Group AG commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on July 28, 2023.
December 18, 2023
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Zumtobel Group AG (WBAG:ZAG) commences share repurchases on December 11, 2023, under the program mandated by the shareholders in the Annual General Meeting held on July 28, 2023. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The purpose of repurchase program is to reduce the share capital by redeeming shares. The shares will be repurchased at a lowest price of 30% below the unweighted average closing price of the last 20 trading days prior to the start of the repurchase program and at a highest price of 30% above the unweighted average closing price of the last 20 trading days prior to the start of the repurchase program per share. The repurchased shares will be used for in the form of an accelerated private placement, or as a non-cash transaction currency for the acquisition of companies, shares or various other assets. The repurchase authorization is valid for 30 months.
On November 29, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 1,000,000 Bearer shares, representing 0.92% of the share capital. The repurchases will commence from December 11, 2023 and will be valid till January 31, 2025.
Zumtobel Group AG is an Austria-based company. The Company is engaged as a provider of lighting solutions, lighting components and the associated services. The Company operates through two segments: Lighting Segment and Components Segment. In the lighting segment, the Company produces hardware and software for lighting systems (LED light sources, LED drivers, sensors and light management). It offer services such as advice on intelligent lighting controls and emergency lighting systems, lighting contracting, design services, project management for turnkey lighting solutions as well as new, data-based services with a focus on connecting buildings and cities using light infrastructure, e.g. Real-time location of goods and people using Bluetooth Doppler direction finding. The Components segment includes industry (including logistics, halls, parking garages), office, education and healthcare (including hospitals, schools and universities) and retail (incl. Supermarkets, furniture stores).
ZUMTOBEL GROUP AG 
