UMT United Mobility Technology AG resolves share buy-back
Today UMT’s Management Board has resolved to start a program for repurchasing shares. Basis for this repurchase is the authorization of the Annual General Meeting of 12 June 2015, to acquire own shares up to an amount of 10 % of the share capital until 31 May 2020. The Management Board plans to acquire up to 900,000 shares (this corresponds to 5.15 % of today’s capital stock) until 30 June 2018.
The shares are acquired via the stock exchange. This means that the exchange rate per share paid by the company (excluding incidental costs) may not exceed the price determined on the trading day by the opening auction in the Xetra trading at the Frankfurt / Main Stock Exchange by more than 10 % or fall below the said price by more than 20 %.
UMT United Mobility Technology AG currently holds 78,606 treasury shares. This corresponds to 0.45 % of the share capital.
The treasury shares may be used for all legally permissible purposes, in particular for existing and future employee stock option programs and / or in return for participation in companies.