Ad-hoc: HeidelbergCement decides on share buyback programme with a total volume of up to €1 billion
The Managing Board of HeidelbergCement AG has decided on a share buyback programme with a total amount of up to €1 billion (excluding incidental purchase costs) which is expected to be completed by September 2023. The share buyback programme is in line with the company's financial policy and should be seen in the context of the successful net debt reduction as well as the good business development in the current financial year.
The share buyback will be carried out in several tranches. The first tranche in the amount of €300 to €350 million is scheduled to start in August 2021 and is to be completed by January 2022 at the latest. Further details will be announced before the beginning of the share buyback.
The share buyback will be carried out via the stock exchange. In doing so, the Managing Board will make use of the authorisation granted by the Annual General Meeting on 6 May 2021, according to which the company may acquire its own shares up to a total of 10% of the share capital until the end of 5 May 2026; this corresponds to 19,841,647 shares. HeidelbergCement AG intends to hold the acquired shares as treasury shares for the time being.
HeidelbergCement AG reserves the right to interrupt or discontinue the share buyback programme at any time.
The Company will provide regular information on the progress of the share buyback programme on its website, in compliance with the correspondent requirements.
About HeidelbergCement
HeidelbergCement is one of the world’s largest integrated manufacturers of building materials and solutions, with leading market positions in aggregates, cement, and ready-mixed concrete. Around 53,000 employees at more than 3,000 locations in over 50 countries deliver long-term financial performance through operational excellence and openness for change. At the center of actions lies the responsibility for the environment. As forerunner on the path to carbon neutrality, HeidelbergCement crafts material solutions for the future.
