MS Industrie AG: Board of Directors decides upon Share Buyback Program
September 04, 2019 at 04:55 am EDT
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DGAP-Ad-hoc: MS Industrie AG / Key word(s): Share Buyback
MS Industrie AG: Board of Directors decides upon Share Buyback Program
04-Sep-2019 / 10:52 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Munich, 04th of September 2019
AD HOC Communication
MS Industrie AG - Board of Directors decides upon Share Buyback Program
Munich, the 04th of September 2019. The Board of Directors of MS Industrie AG (WKN 585518, ISIN DE0005855183) today decided to implement a program to buy back shares of the company. The basis for the share buyback is the authorization of the General Assembly on June 28th, 2017 to acquire the company's own shares until June 27th, 2022 up to a portion of 10% of the share capital. The Board of Directors plans to acquire up to 250,000 shares (this corresponds to around 0.83% of the current share capital) until December 31st, 2020.
If the shares are acquired via the stock exchange, the equivalent value per share paid by the Company (excluding ancillary expenses) may not exceed the price on XETRA platform of the Frankfurt/Main Stock Exchange determined by the opening auction by more than 10% and may not undercut the same price by more than 20%.
MS Industrie AG currently holds 80,400 own shares. This corresponds to around 0.27% of the share capital.
The own shares can be used for all legally permissible purposes, in particular for existing and future employee participation programs and / or as consideration in the context of investments in other companies.
Background:
MS Industrie AG (WKN: 585518), headquartered in Munich, is the listed parent company of a focused industrial group with the business areas powertrain technology ("Powertrain Technology Group": systems and components for heavy-duty diesel engines and customized electric motors) and ultrasonic technology ("Ultrasonic Technology Group": special machines and ultrasonic systems and components). Key customer industries include the global commercial vehicle and passenger car industry, followed by the packaging machine industry and general mechanical and plant engineering. In 2018, the Group generated sales of around EUR 280 million with over 1,250 employees at eight production sites, four of them in Germany and one each in the USA, Brazil, China and Bulgaria.
Further Information:
MS Industrie AG
Brienner Straße 7
80333 Munich
Tel: 089/20500900
Fax: 089/20500999
Mail: info@ms-industrie.ag
Internet: www.ms-industrie.ag
04-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
MS Industrie AG
Brienner Straße 7
80333 München
Germany
Phone:
+49 (0) 89 20 500 900
Fax:
+49 (0) 89 20 500 999
E-mail:
info@ms-industrie.ag
Internet:
www.ms-industrie.ag
ISIN:
DE0005855183
WKN:
585518
Listed:
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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 
