BRUSSELS, France--(BUSINESS WIRE)--Regulatory News:
AKKA (Paris:AKA) (BSE:AKA) (ISIN:FR0004180537) prepares for the second phase of its strategic plan CLEAR 2022.
- 12 months after the acquisition of PDS Tech, which has been successfully integrated, AKKA has raised €175m last week providing the group with the means and latitude to fund the acceleration of its growth in 2020.
- As authorised by the Management Board on November 13rd 2019, the Group launches a share buyback program benefitting from the technical and foreseeable drop in the share price following this operation.
- The repurchase will be performed over the next six months, based on prevailing market conditions and it will encompass an amount of up to 250,000 shares, equal to 1.2% of company’s share capital, at a price not higher than 75 euros per share. The group has entrusted this share buy-back program to an independent investment services provider.
In accordance with authorization given by the shareholders during the extraordinary general assembly meeting held on June 13rd, 2019, the share buy-back program aims to:
- Grant stock options to the Company’s employees and corporate officers, offer them the opportunity to purchase shares, or award them with bonus shares,
- Award shares in order to reward employees for the company’s growth
- Provide shares as payment or in exchange for carrying out any external growth operations,
- Grant shares upon exercise of the rights attached to securities that entitle the holder to existing shares in the Company through redemption, conversion, exchange or presentation of a warrant, or in any other way.
- The number of treasury shares held as of 30th November 2019 is of 269,114 shares, of which 19,700 shares are held under liquidity agreement.
In case of discrepancy between the French and English versions of the press release, only the French version shall be deemed valid.
AKKA is the European leader in engineering consulting and R&D services in the mobility segment. As an innovation accelerator for its clients, AKKA supports leading industry players in the automotive, aerospace, rail and life sciences sectors throughout the life cycle of their products with cutting edge digital technologies (AI, ADAS, IoT, Big Data, robotics, embedded computing, machine learning, etc.).
Founded in 1984, AKKA has a strong entrepreneurial culture and is pursuing its fast-paced growth and international development in line with its CLEAR 2022 strategic plan. With approximately 21,000 employees, who are passionate about technology and dedicated to advancing the future of industry, the Group recorded revenues of €1.5 billion in 2018.
AKKA Technologies is listed on Euronext Paris and Brussels – Segment A – ISIN code: FR0004180537.
For more information, please visit www.akka-technologies.com
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