Axway Software SA commnces an Equity Buyback Plan for 2,163,360 shares, representing 10% for €101.68 million, under the authorization approved on May 11, 2023.

Axway Software SA (ENXTPA:AXW) commences share repurchases on May 11, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2023. As per the mandate, the company is authorized to repurchase up to 2,163,360 shares, representing 10% of its own shares for maximum up to €101.68 million. The shares will be repurchased at a price not more than €47 per share.

The purpose of the buyback is to ensure liquidity, to retain shares that are repurchased for subsequent exchange or use as consideration in acquisitions, to cover company share purchase option plans benefiting employees and/or qualifying company officers of the company and/or award shares in the company to qualifying company officers, employees and former employees of the company or of the group, under group profit-sharing schemes or a company savings plan or similar plan, to provide coverage for securities or any other purpose which is authorized or will be authorized by the regulations in force. The repurchased shares may also be cancelled. The plan will be valid for 18 months, until November 11, 2024.

As of May 11, 2023, the company had 21,633,597 shares in outstanding.