Phoenix Mecano announces share buyback programme via second trading line

The share buyback programme at a fixed price has been completed. Shareholders have tendered 1073 registered shares. Phoenix Mecano will launch a new share buyback programme via a second trading line from 15 November 2023. 

Kloten/Stein am Rhein, 13 November 2023. On 26 October 2023, Phoenix Mecano announced that it would buy back its own registered shares worth up to CHF 15,000,000 at an offer price of CHF 367 per registered share via a fixed-price procedure. Based on the fixed price, this corresponds to a maximum of 40,871 registered shares or a maximum of 4.26% of the company's share capital. The offer period lasted from 27 October to 10 November 2023 (12:00 noon CET).

Shareholders tendered 1073 registered shares as part of the buyback offer. This number is below the maximum transaction volume, which is why all offers from shareholders can be considered. The net buyback price, i.e. the offer price less 35% withholding tax on the difference between the offer price and the nominal value, will be paid out against delivery of the registered shares on 14 November 2023 (value date).

As already announced, Phoenix Mecano will launch a new share buyback programme via a second trading line following the fixed-price buyback offer. Phoenix Mecano instructs Zürcher Kantonalbank to buy back registered shares on the second trading line on the SIX Swiss Exchange from 15 November 2023 up to a maximum acquisition value of CHF 29,606,209 and until 14 November 2025 at the latest. 

The Board of Directors intends to propose the cancellation of the repurchased registered shares at future Annual General Meetings and thus reduce the capital accordingly, which will lead to a sustainable compression of profits.

Detailed information on the further share buyback programme can be found in the official buyback advertisement. www.phoenix-mecano.com

For more information, please contact:
Phoenix Mecano Management
Dr Rochus Kobler, CEO
Lindenstrasse 23, CH-8302 Kloten
Tel. +41 (0)43 255 4 255
info@phoenix-mecano.com
www.phoenix-mecano.com

About Phoenix Mecano
The Phoenix Mecano Group is a global player in the enclosures and industrial components segments and is a leader in many markets. Headquartered in Stein am Rhein, Switzerland, the Group employs around 8,000 people worldwide and generated sales of EUR 793 million in 2022. It is geared towards the manufacture of niche products and system solutions for customers in the mechanical engineering, measurement and control technology, medical technology, aerospace technology, alternative energy, and home and hospital care sectors. Phoenix Mecano was founded in 1975 and has been listed on the Swiss stock exchange since 1988.