Great post. Like written on X. Thoughts on an upped tender price >96? (see 5.1)
Price action after announcement doe snot fulfill the 'not insignificant' condition so far I guess, significant could be related somehow to the +/-20% thresholds, so at least a 10% move I guess
💚 🥃
"MBB SE announces buyback of 393,522 shares or 6.9% of the share capital
Berlin, 07 March 2024 - MBB SE (ISIN DE000A0ETBQ4) received tenders for 393,522 shares as part of
its voluntary public share buyback offer by the end of the acceptance period. The shares will be
repurchased in full at a price of €96.00 per share. This corresponds to around 6.9% of the share capital
and a total purchase price excluding acquisition costs of €37.8 million. The settlement and thus the
purchase price payment to the custodian banks is expected to take place on 13 March 2024.
The offer comprised the repurchase of up to 571,639 treasury shares or 10% of the share capital, with
the offer period ending on 4 March 2024. Next to free float shareholders, one of MBB's two major
shareholders, Gert-Maria Freimuth, also tendered a significant number of shares. Major shareholder and
Executive Chairman of MBB, Dr. Christof Nesemeier did not participate in the buyback.
Against the background of the extraordinary substance and the high cash flow in the Group, MBB is
aiming to increase the value per share with the buyback and still has sufficient financial resources for
organic growth and growth through acquisitions."
Link to announcement: https://www.mbb.com/fileadmin/templates/downloads/news/240307-MBB-Share-Buyback-Offer-2024-Result_EN.pdf
Great post. Like written on X. Thoughts on an upped tender price >96? (see 5.1)
Price action after announcement doe snot fulfill the 'not insignificant' condition so far I guess, significant could be related somehow to the +/-20% thresholds, so at least a 10% move I guess