Zehnder Group set to begin share buyback programme for the purposes of capital reduction
Gränichen (Switzerland), 23 March 2021 – The Zehnder Group (SIX: ZEHN), a leading international provider of complete solutions for a healthy indoor climate, will start a share buyback programme corresponding to a maximum of 5% of the listed registered shares A on 24 March 2021. The aim is to achieve a lasting concentration of earnings.
The share buyback programme announced by the Zehnder Group on 24 February 2021 will commence on 24 March 2021. Over a maximum period of three years, the Group will buy back up to 5% of the listed registered shares A via a second trading line on the SIX Swiss Exchange. This corresponds to 487,800 registered shares A, whose cancellation will be proposed by the Board of Directors at future Annual General Meetings.
Strategic flexibility for future investments and acquisitions will be maintained. At the end of 2020, the Zehnder Group had a strong balance sheet with a high equity ratio of 66% and net liquidity of EUR 96.4 million. It also has a syndicated credit facility of EUR 100 million with a term of three years. As well as including an extension option, it will also be possible to increase the facility by EUR 50 million if larger acquisitions need to be made.
The Zehnder Group has commissioned Zürcher Kantonalbank to conduct the share buyback programme. Further information is available in the official advertisement (in German and French) on our website at www.zehndergroup.com/en/investor-relations/shares.
| Next dates to note | |
|---|---|
| Annual General Meeting 2021 | 26 March 2021 |
| Six-month report 2021 | 28 July 2021 |
| Sales for 2021 | 14 January 2022 |
| Annual Report 2021 and media/analyst conference | 23 February 2022 |
| Annual General Meeting 2022 | 7 April 2022 |
Contact
René Grieder
Member of the Group Executive Committee, CFO
Zehnder Group AG, 5722 Gränichen (Switzerland)
T +41 62 855 15 17, rene.grieder@zehndergroup.com
This media release is published in German and English. The German version is binding.
For further information about the Zehnder Group, please visit www.zehndergroup.com.
Company profile
The Zehnder Group improves quality of life with comprehensive indoor climate solutions. The globally active company develops and manufactures its products in 16 plants, including 5 in China and North America. Its sales activities, spanning more than 70 countries, take place through local sales companies and representative offices.
Zehnder Group products and systems for heating and cooling, comfortable indoor ventilation and air cleaning are characterised by outstanding design and high energy efficiency. The Group is among the market and technology leaders in its business areas with brands such as Zehnder, Runtal, Acova, Bisque, Greenwood, Paul, Core, Enervent and Recair.
The Zehnder Group has had its headquarters in Gränichen (Switzerland) since 1895. It employs around 3300 people worldwide and achieved sales of EUR 618 million in 2020 (unaudited). The company is listed on the SIX Swiss Exchange (symbol ZEHN/number 27 653 461). The unlisted registered shares B are held by the Zehnder family and persons closely associated with them.