The Annual General Meeting has authorized United Internet AG on May 22, 2014 to acquire treasury stock in accordance with Sec. 71 Par. 1 No. 8 German Stock Corporation Act (AktG) up to a total of 10% of the capital stock. The authorization was issued for the period up to September 22, 2017.
Treasury shares can be used for all purposes stated in the authorization of the Annual Shareholders' Meeting of May 22, 2014, in particular for current and future employee stock ownership plans and / or as an acquisition currency, or may also be cancelled.
The Management Board of United Internet AG on June 30, 2016 resolved to launch a new share buyback program. In the course of this new share buyback program, up to 5,000,000 company shares (corresponding to approx. 2.44% of capital stock) were to be bought back via the stock exchange. The resolution followed the authorization of the Annual Shareholders' Meeting of May 22, 2014 to buy back treasury shares representing up to 10% of the company's capital stock. The authorization was issued for the period up to September 22, 2017.
In the course of the share buyback program, 3,000,000 shares with an average acquisition price of EUR 37.37 and a total volume of EUR 112.1 million were purchased between July 1st and September 14, 2016.
Between January 2nd and February 03, 2017 another total of 2,000,000 shares with an average acquisition price of EUR 38.58 and a total volume of EUR 77.2 million were purchased.
Therefore the share buyback program from June 30, 2016 was fully utilized. Together with treasury shares from earlier share buyback programs, United Internet holds a total of 5,370,943 treasury shares, corresponding to 2.62% of total capital stock of EUR 205,000,000.
A commercial bank was commissioned with the buyback.
as of February 6, 2017