Ad hoc release: GEA Group Aktiengesellschaft resolves share buyback with cancellation of shares in a volume up to EUR 400 million and cancellation of held treasury shares in a buyback volume of around EUR 300 million

The program is scheduled to start in November 2023 with a first tranche of up to EUR 150 million (not including ancillary acquisition costs) and to be completed within six months. 

At the same time, the Executive Board, with the approval of the Supervisory Board, resolved that the shares to be newly acquired under the share buyback program as well as the 8,161,096 treasury shares currently held by the Company (corresponding to 4.52% of the capital stock) shall be cancelled without reducing the Company’s share capital. These shares were acquired as part of the 2021/2022 share buyback. The volume of the buyback at that time totaled around EUR 300.5 million.

The share buyback is to be carried out in accordance with the safe harbor provisions of Article 5 of the EU Market Abuse Regulation (Regulation (EU) No. 596/2014) in conjunction with the provisions of the Delegated Regulation of the EU Commission (Regulation (EU) 2016/1052). The Company will provide regular information on the progress of the share buyback program on its website www.gea.com.