EQS Group-Ad-hoc: Forbo Holding AG / Key word(s): Share Buyback
Forbo launches fixed-price buyback offer
26-Nov-2021 / 07:08 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
MEDIA RELEASE AD HOC announcement pursuant TO ARTICLE 53 of the six exchange regulation listing rules
The Board of Directors of Forbo Holding Ltd is offering to repurchase maximum 82,500 of its registered shares (5% of the share capital) at a fixed price as part of the current share buyback program 2019-2022. The fixed price is CHF 1,745 per registered share. Trading on the second trading line will be suspended until and including December 13, 2021.
Baar, November 26, 2021
Fixed-price buyback offer At the Ordinary General Meeting on April 5, 2019, the Board of Directors of Forbo Holding Ltd was authorized to repurchase own Forbo shares, either through the second trading line on the SIX Swiss Exchange or in another way, up to a maximum of 165,000 registered shares (10% of the share capital) over a period of three years for the purpose of a capital reduction.
Based on this authorization, the Board of Directors launched a share buyback on March 22, 2021 via a second trading line on the SIX Swiss Exchange.
The Board of Directors is now taking the opportunity to launch a share buyback at a fixed price as part of the current share buyback program. In the period from November 29, 2021 to December 10, 2021 (5 pm CET), the Board of Directors is offering to buy back a maximum of 82,500 registered shares (5% of the share capital) of Forbo Holding Ltd at a fixed price of CHF 1,745 per registered share.
The repurchase advertisement can be downloaded on our website at www.forbo.com - Investors - Share information - Share buyback - Share buyback program 2019-2022.
Trading on the second trading line suspended Trading on the second trading line will be suspended until and including December 13, 2021.
Forbo is a leading producer of floor coverings, building and construction adhesives, as well as power transmission and conveyor belt solutions. Forbo's linoleum floor coverings are made from natural raw materials. It is biodegradable and CO2-neutral (cradle to gate), without offsetting. In the manufacture of its heterogeneous vinyl floor coverings, Forbo uses the latest in phthalate-free plasticizers with a base layer containing up to 45% recycled material. The BioBelt(TM) is a biologically degradable conveyor belt made largely from renewable, plant-based materials. The AmpMiser(TM) conveyor belt enables energy savings and therefore also a reduction in CO2 emissions of up to 50%. For Forbo as a responsible manufacturer, the careful use of all resources for a sustainable future is a guiding principle.
Forbo employs about 5,500 people and has an international network of 25 sites with production and distribution, 6 assembly centers, and 49 sales organizations in a total of 39 countries around the world. The company generated net sales of CHF 1,117.7 million in the 2020 business year. Forbo is headquartered in Baar in the canton of Zug, Switzerland. Forbo Holding Ltd is listed on SIX Swiss Exchange (security number 354151, ISIN CH0003541510, Bloomberg FORN SW, Reuters FORN.S).
Contact person: This E. Schneider Executive Chairman Phone +41 58 787 25 49 www.forbo.com www.forbo.com -> Sustainability
End of ad hoc announcement
|Company:||Forbo Holding AG|
|Phone:||+41 58 787 25 25|
|Fax:||+41 58 787 25 20|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1252124|
|End of Announcement||EQS Group News Service|