D'Ieteren Group SA commences an Equity Buyback Plan for 15% of its issued share capital, under the authorization approved on May 25, 2023.
May 30, 2023
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D'Ieteren Group SA (ENXTBR:DIE) commences share repurchases on May 26, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on May 25, 2023. As per the mandate, the company is authorized to repurchase its own shares, representing 15% of its issued share capital. The shares will be repurchased at a minimum price of ?1 per share and a maximum price of 10% above the average quotation of the last ten days.
The shares repurchased will be disposed by the company. The repurchase program will be valid for a period of 5 years.
In existence since 1805, and across family generations, D'Ieteren Group (the Group) is an investment company seeking growth and value creation by building a family of businesses that reinvent their industries and search for excellence and meaningful impact. It currently owns the following businesses:
- Belron (50.30% in fully diluted economic rights at 31 December 2023, equity-accounted investee): worldwide leader in vehicle glass repair, replacement and recalibration;
- D'Ieteren Automotive (100% owned): distributor of Volkswagen, Audi, SEAT, Skoda, Bentley, Lamborghini, Bugatti, Cupra, Rimac, Microlino, Maserati and Porsche vehicles in Belgium and expanding into other mobility services;
- PHE (100% in economic rights - see note 2) is a leader in the independent distribution of spare parts for vehicles in Western Europe, present in France, Belgium, The Netherlands, Luxemburg, Italy and Spain;
- TVH (40% owned - equity accounted-investee): leading global independent distributor for aftermarket parts for material handling, construction & industrial, and agricultural equipment;
- Moleskine (100% owned): develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multichannel platform;
- D'Ieteren Immo (100% owned): groups together the Belgian real estate interests of D'Ieteren Group.