BRUSSELS--(BUSINESS WIRE)--Regulatory News:
- AKKA (Paris:AKA) (BSE:AKA) (ISIN:FR0004180537) launches a new share buyback program. This program was authorized by the Management Board on Monday 10th February 2020. The repurchase of the shares will be carried out over the next six months, based on prevailing market conditions and will encompass up to 250,000 shares representing 1.2% of Company’s share capital, at a price not higher than €75 per share. The group has entrusted this share buy-back program to an independent investment services provider.
In accordance with the authorization given by the shareholders during the Extraordinary General 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 31st January 2020 is of 296,993 shares, of which 10,014 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 €1.8 billion in 2019.
AKKA Technologies is listed on Euronext Paris and Brussels – Segment A – ISIN code: FR0004180537.
For more information, please visit www.akka-technologies.com
Follow us on: twitter.com/AKKA_Tech