MLP SE commences an Equity Buyback Plan under the authorization approved on June 24, 2021.
January 09, 2023 at 12:08 pm EST
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MLP SE (XTRA:MLP) commences share repurchases on January 2, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 24, 2021. As per the mandate, the company is authorized to repurchase its own shares, such that the share in treasury does not exceed 10% of the share capital. If the shares are purchased on the stock exchange, the purchase price per share excluding transaction costs must not exceed nor fall short of the arithmetic average of the share prices on the last three days of trading prior to the undertaking to acquire shares by more than 10%. In the case of a public tender offer, the purchase price offered or the limits of the price margin offered per share must not exceed nor fall short of the arithmetic average of the share prices on the last three days of trading prior to the undertaking to acquire shares by more than 10%. The repurchased shares will be used as offering and/or granting to third parties as consideration within the scope of business combinations or acquisitions of enterprises or parts thereof or interests therein, including increasing the existing shareholding, or other contributable business assets associated with such a business combination or acquisition, including third party claims against the company or downstream affiliated companies or for resale on the stock exchange or for servicing conversion rights on future bonds with conversion or option rights or for acquisition, or promising and/or transferring them exclusively to employees of the company and its downstream affiliates, members of the managing bodies of its downstream affiliates as well as commercial agents or using these to perform a so-called "scrip dividend" whereby shareholders can elect to use their dividend claim either fully in or in part to acquire shares. The program will expire on June 23, 2026. As of May 14, 2021, the company had 109,334,686 shares in issue.
On December 15, 2022, the company initiated a share repurchase program. Under the program, the company will repurchase up to 3.15 million worth of its stock. The company will use the repurchased shares for a participation program for branch managers and consultants. The repurchases will commence on January 2, 2023 and valid till May 31, 2023.
MLP SE is a Germany-based holding company engaged in the investment management and fund operators industries. Through its subsidiaries, the Company operates as a financial services company which offers financial products and solutions. The Company operates four business segments. The Financial Services segment provides consulting services, insurance, investments, pension provision schemes and loans, as well as contract brokering concerning these financial services, among others. In addition, this segment includes portfolio management, trustee credit business and credit card business. The Feri segment covers wealth and investment consulting. The Holding business segment covers the Companyâs internal services and activities. The Non-Life Insurance segment covers underwriting. All segments are active in Germany, whereas the Feri segment also operates in Luxembourg. The Company operates MLP Finanzdienstleistungen AG, FERI AG, TPC GmbH and the DOMCURA Group as wholly owned subsidiaries.