Rocket Internet, owners of Jumia and several other major tech companies, this morning announced that its Management Board with consent of the Supervisory Board, has resolved to carry out a share buy-back program with a total maximum consideration (excluding ancillary costs) of up to 100 million Euro and a maximum volume of up to 5,000,000 shares, representing a maximum of up to 3.03% of the outstanding share capital of Rocket Internet.
In a statement made available to TechCity, Rocket Internet said the buy-back will be executed via Xetra trading on the Frankfurt Stock Exchange and will begin on August 14, 2017 and end on April 30, 2018. The repurchased shares are intended to be redeemed, and Rocket Internet’s share capital is intended to be reduced accordingly.
“The Share Buy-Back Program will be carried out based on the authorization of the Annual General Meeting of June 2, 2017. Under this authorization, Rocket Internet SE is authorized to acquire own shares until June 1, 2022 in an amount of up to 10% of the share capital of Rocket Internet at the time of the resolution or – if this value is lower – at the time of the exercise of the authorization. If the shares are repurchased over the stock exchange, the purchase price per share (excluding ancillary costs) may not exceed or be less than 10% of the price of a share of Rocket Internet in Xetra trading (or a corresponding successor system) ascertained by the opening auction on the trading day,” Rocket Internet stated.
”We use our strong cash position to repurchase own shares“, says Oliver Samwer, CEO Rocket Internet. ”The Share Buy-Back Program underlines our aim to allocate capital most efficiently.”
As an Amazon Associate, TechCity may earn a small commission if you shop these products.
Misxi 2 Pack Hard PC Case with Tempered Glass Screen Protector Compatible with Apple Watch Series 6 SE Series 5 Series 4 44mm, Black
$9.96 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Alpha Grillers Instant Read Meat Thermometer for Grill and Cooking. Best Waterproof Ultra Fast Thermometer with Backlight & Calibration. Digital Food Probe for Kitchen, Outdoor Grilling and BBQ!
$15.99 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
WaterWipes Plastic-Free Original Baby Wipes, 99.9% Water Based Wipes, Unscented & Hypoallergenic for Sensitive Skin, 60 Count (Pack of 12), Packaging May Vary
$39.97 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Huggies Natural Care Sensitive Baby Wipes, Unscented, Hypoallergenic, 99% Purified Water, 12 Flip-Top Packs (768 Wipes Total), Packaging May Vary
$22.99 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
All-new Amazon Fire TV Stick 4K streaming device, more than 1.5 million movies and TV episodes, supports Wi-Fi 6, watch free & live TV
$29.99 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon eero 6 dual-band mesh Wi-Fi 6 extender - expands existing eero network
$79.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Acer Aspire 3 A315-24P-R7VH Slim Laptop | 15.6" Full HD IPS Display | AMD Ryzen 3 7320U Quad-Core Processor | AMD Radeon Graphics | 8GB LPDDR5 | 128GB NVMe SSD | Wi-Fi 6 | Windows 11 Home in S Mode
$299.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Dell 65W USB-C Laptop Charger for XPS and Latitude 5000 - Power Cord Included
$25.68 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire Max 11 tablet, vivid 11” display, all-in-one for streaming, reading, and gaming, 14-hour battery life, optional stylus and keyboard, 64 GB, Gray
$179.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
