Nagarro SE with its registered seat in Munich, Germany, has announced on 14 April 2023 a share buyback program to acquire treasury shares in a total volume of up to EUR 30 million. Listed and included in the SDAX and TecDAX, Nagarro SE is a leading global IT service provider in the areas of digital product development, digital commerce and customer experience, Big Data and AI services as well as consulting on latest generation ERP and managed services.
The Management Board of Nagarro SE has resolved to acquire, under utilization of the authorization granted by the shareholders’ meeting on 30 October 2020, a total of up to 350,000 treasury shares (corresponding to approximately 2.54% of the Company’s registered share capital) up to a total purchase price of EUR 30 million via the stock exchange. The acquired shares may be used for all purposes mentioned in the authorization.
The buyback shall be carried out by a credit institution in three tranches, starting from 2 May 2023. The buyback will be carried out under consideration of the safe harbor rules of the Market Abuse Regulation and the Delegated Regulation (EU) 2016/1052 of 8 March 2016. The credit institution will make its decisions on the timing of the acquisition as well as the amount of the individual buyback independently and uninfluenced by the Company.
GLNS is again advising Nagarro SE comprehensively on all aspects of the share buyback with Dr. Bernd Graßl and Malte Krohn. The focus of the advice is, amongst others, on the compliance with capital market law requirements for the application of the safe harbor regulations.