Westwing Group SE commences an Equity Buyback Plan, under the authorization approved on August 5, 2021.
December 05, 2022 at 09:22 am EST
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Westwing Group SE (XTRA:WEW) commences share repurchases on November 28, 2022, under the program mandated by the shareholders in the General Meeting held on August 5, 2021. As per the mandate, the company is authorized to repurchase its own shares such at that it does not hold more than 10% of its issued shares at any time. The shares may be repurchased at a price per share (excluding incidental costs) which may not be more than 10% higher or lower than the price of a share of the company on Xetra trading (or a corresponding successor system) ascertained by the opening auction on the trading day. The authorization is valid until August 4, 2026.
On November 24, 2022, the company announced a share buyback program. Under the program, the company will repurchase up to 600,000 shares, representing 2.87% of its share capital, for €3 million. The shares repurchased will be used for existing and future employee participation programs. The repurchase program will commence on November 28, 2022 and will expire on March 31, 2023.
Westwing Group SE is a Germany-based company specializing in the home and living e-commerce sector. The Company offers a broad range of home products, which include home decor products, home accessories, textiles and rugs, and large and small furniture, such as living and dining furniture, upholstery, and bedroom furniture, as well as kitchen and dining, lighting, and other products under own private label and third-party brands. It cooperates with more than 500 partners, including designer brands, manufacturers, and suppliers, such as KitchenAid, Flos, Nespresso, jankurtz, Jonathan Adler, hessnatur, among others. The Company is active in 11 European countries, including Germany, Austria, Switzerland, Belgium, the Czech Republic, France, Italy, the Netherlands, Poland, Spain, and Slovakia.
WESTWING GROUP SE 
