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EVS announces share buyback program of up to EUR 10 million
The program is a testimony to EVS’s commitment to enhancing shareholder value and demonstrates the confidence of the company in the long-term growth perspectives
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Liège, Belgium | November 25th, 2024
EVS, a global leader in live video production technology, announces that its Board of Directors has authorized a share repurchase program to buy back up to EUR 10 million of the company’s outstanding common shares over the next 24 months.
Details of the share buyback program
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Program size: up to EUR 10 million and up to 355.000 shares
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Timeframe: effective as of December 1st, 2024 with completion at the latest by November 30th, 2026
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Methods: buybacks will be conducted through open market transactions subject to market conditions and compliance with the applicable regulations and with the shareholders’ authorization granted on June 7th, 2022
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Funding: the program will be funded through cash reserves, ensuring continued financial flexibility for growth initiatives
Strategic rationale
The buyback program underscores EVS’s commitment to returning capital to shareholders by optimizing the earnings per share while maintaining the flexibility to invest in strategic opportunities. The company also wants to underscore its belief in the future growth opportunities that lay ahead and that will contribute to generate increased value for the company and its shareholders.
Comments
Serge Van Herck, CEO, comments:
“The initiation of this share buyback program reflects EVS’s strong financial position and our commitment to delivering long-term value to our shareholders. This program is strategically aligned with our goal of optimizing capital allocation, demonstrating confidence in the company’s growth trajectory, and enhancing shareholder returns.
The Board of Directors will carefully evaluate and decide on the optimal use of the repurchased shares at a later stage. Potential options include the cancellation of the shares, their use to cover employee warrant programs, or leveraging them in future acquisition transactions. This flexibility ensures that the program supports both immediate and strategic long-term goals.”
Discretionary Suspension or Termination of Share Buyback Program
The Company reserves the right to suspend or terminate the share buyback program at any time based on prevailing market conditions, regulatory considerations, or material developments impacting the Company. Any decision to modify or discontinue the program will be guided by the Company's assessment of its financial position, strategic priorities, and shareholder interests.