The share buyback serves to implement the first tranche of the employee participation program adopted by the Management Board of LPKF Laser & Electronics AG in November 2019.
"The motivation of our colleagues, and their enthusiasm for what we deliver for our customers are critical success factors for a technology company like ours”, says CEO Goetz M. Bendele. “Besides enjoying one’s work, we strongly believe that each individual should have the opportunity to participate in the company’s success. With this program, we are reinforcing that. The high rate of participation is a clear indication of our employees’ faith in the company and its direction.”
Immediately after the repurchase has been completed, the shares are transferred to the employees participating in the employee participation program in accordance with the terms of the plan.
The repurchase is carried out in accordance with the so-called safe-harbour regulations of Art. 5 of Regulation (EU) No. 596/2014 in conjunction with the Delegate Regulation (EU) 2016/1052 of the Commission.
The repurchase will be carried out by a bank. Within the above period, the bank will take its decisions on the timing of the acquisition of the shares independently and uninfluenced by LPKF. LPKF's right to terminate the mandate of the bank prematurely and to transfer the mandate to another bank remains unaffected.
The repurchase will be carried out via electronic trading on the Frankfurt Stock Exchange (XETRA) at the lowest possible cost and safeguarding interest. Regarding the purchase price, the requirements of the safe harbor regulations will be followed.
The share buy-back may be suspended and resumed at any time in accordance with the legal provisions.
The transactions will be announced in accordance with the requirements of Art. 2 para. 2 of the Delegated Regulation (EU) 2016/1052 of the Commission at the latest by the end of the seventh trading day after their execution.
LPKF will report on the progress of the buyback program in accordance with the legal provisions on the Company's website (www.lpkf.com) in the section Investor Relations.