Hamburg, April 21, 2020—Muehlhan AG (Open Market; ISIN DE000A0KD0F7) is ending its share buyback program. The company has bought back 528,191 treasury shares over the past two or so years. The repurchase of shares was carried out under the authorization issued by the Annual General Meeting on May 19, 2015, and was used to support the objectives indicated in the authorization:
- Share-based compensation of company employees
- Use of shares to pay for acquisitions
The authorization limits the share buyback to a maximum pro-rata amount of the share capital of €1,950,000.00, equivalent to 10% of the existing share capital of €19,500,000.00 as of that date. The authorization may be exercised directly by the company or by third parties appointed by the company in whole or in several partial amounts, including, in the latter case, on multiple occasions, within the aforementioned limit.
About Muehlhan: Worldwide, Muehlhan Group is a reliable partner in industrial services. As one of the few full-service providers we offer our customers a broad spectrum of industrial services with professional industrial quality standards. Our customers benefit from our exceptional organizational skills, on-time delivery, the technical expertise that differentiates us from our competitors, and our more than 135 years of experience. We have an established market presence in the four business segments in which we operate: Ship, Renewables, Oil & Gas and Industry/Infrastructure. Muehlhan AG is a listed company and is traded on the Open Market under ISIN DE000A0KD0F7.
You can find additional information at www.muehlhan.com
Contact: Muehlhan AG; phone: +49-40-752-7115-0; e-mail: investorrelations(at)muehlhan.com