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Share Buyback Program

As a precautionary measure to reflect current uncertainties related to the financial impact from COVID-19, Landis+Gyr has decided to suspend the Group’s share buyback program, effective March 30, 2020.

As announced on January 29, 2019 the Board of Directors of Landis+Gyr Group AG has approved a share buyback program of up to CHF 100 million or a maximum of 8% of shares outstanding.

The program is expected to begin on January 30, 2019 and run up to 36 months. The shares will be bought out of capital reserves via the first line on the SIX Swiss Exchange. The shares will be repurchased for the purposes of cancellation, subject to approval by future Annual General Shareholders’ Meetings. The share buyback was exempted from the provisions on public takeover offers provided for in section 6.1 of the Circular no. 1 of the Swiss Takeover Board dated 27 June 2013 (status as of 01 January 2016).

You can find detailed information on the share buyback program in the official notices (English, German, French).

The maximum buyback volume per day in accordance with art. 123 para. 1 let. c of the Financial Market Infrastructure Ordinance (FMIO) is 15,684 shares.

The transactions conducted as part of the share buyback program can be viewed in the document below.