IVU Traffic Technologies AG commences an Equity Buyback Plan for 1,509,698 shares, representing 8.52% for ?1.77 million, under the authorization approved on May 29, 2024.
June 24, 2024 at 09:24 am EDT
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IVU Traffic Technologies AG (XTRA:IVU) commences share repurchases on June 17, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 29, 2024. As per the mandate, the company is authorized to repurchase1,509,698 shares, representing 8.52% of its issued share capital, such that treasury share holding of the company may not exceed 10% of the share capital at any time. for ?1.77 million. The purchase price per share paid by the company [excluding incidental acquisition costs] may not be more than 10% above or 20% below the closing price determined for company shares of the same class in Xetra trading [or a corresponding successor system] on the Frankfurt am Main stock exchange on the trading day preceding the acquisition date. The shares repurchased will be sold in whole or part via stock exchange or via an offer to all shareholders. The program will be valid through May 28, 2029. As of April 17, 2024, the company had 17,719,160 shares issued (excluding treasury shares) and 262, 218 shares in treasury.
On June 14, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up 100,000 shares, representing 0.56 % of the share capital, for ?1.6 million. The program is valid till October 31, 2024.
IVU Traffic Technologies AG is a German-based software company. The Company engages in the development, installation, and maintenance of Information Technology (IT) solutions for the operational tasks of public passenger and freight transport. Its products IVU.suite and IVU.rail cover the spectrum of planning, operation and quality assurance for public transport and railway companies. The Company's main product is the IVU.site which include among others, IVU.run for vehicle scheduling, IVU.duty for duty scheduling, IVU.vehicle for vehicle dispatch, IVU.crew and IVU.pad for personnel dispatch, IVU.fleet and IVU.cockpit for fleet management and IVU.control for evaluation. The Companyâs software and hardware systems create timetables, plan, and optimize the use of buses and trains, schedule drivers and vehicles, control and monitor the operation of vehicle fleets, sell tickets, inform passengers, calculate receipts, and compile statistics.
IVU Traffic Technologies AG commences an Equity Buyback Plan for 1,509,698 shares, representing 8.52% for ?1.77 million, under the authorization approved on May 29, 2024.
IVU TRAFFIC TECHNOLOGIES AG 
