EVN AG, an Austrian company, has announced that it will be undertaking other admission duties in accordance with § 119 (9) BörseG. The company’s Management Board has been granted authorization by the General Meeting to acquire its own shares. On January 21, 2016, a resolution was passed by the Management Board to acquire up to 1,000,000 shares through the Vienna Stock Exchange, representing 0.556% of the company’s share capital. The buyback program began on January 28, 2016, and ended on October 5, 2016. Currently, the company holds 1,623,070 own shares.
In addition to this, EVN AG is obligated to provide eligible employees with an annual special payment known as "Special Payment IX" as part of a shop agreement. The company has offered these employees the opportunity to be compensated for part of the special payment by acquiring shares in the company. The shares will have a value of nearly EUR 3,000, with 90% of the equivalent value being deducted from the Special Payment IX. The number of shares granted to each employee will be calculated based on the average closing price of EVN shares on stock exchange trading days.
The company plans to fulfill any beneficiary claims resulting from the Share Offering by transferring its own shares to the employees. This transfer will exclude the repurchase right (subscription right) of EVN AG’s shareholders. The details of this planned disposal of own shares to eligible employees will be published on the company’s website.
Further information regarding the disposal of shares, including the date and duration, the class of shares, and the volume of shares to be sold, will be published in accordance with the Publication Regulation 2018 on the company’s website.
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This news article presents the recent announcement made by EVN AG regarding its other admission duties. The company has been authorized to acquire its own shares and is offering eligible employees the opportunity to acquire shares in the company. These actions are part of EVN AG’s ongoing efforts to fulfill its obligations and provide compensation to its employees. Additional details and updates will be published on the company’s website.
