As a result, GEA Group AG now holds 4.52 percent of the company's registered share capital. The shares were purchased at an average price ofEUR 36.83.As long as they are held by GEA, the repurchased shares will not carry dividend or voting rights.

The treasury shares were acquired in two tranches, with the first tranche of the program running from August 16, 2021 to February 17, 2022 with an average purchase price of EUR 41.18 and amounting to a total of EUR 130,534,323.17. The second tranche began on July 6, 2022 with an average purchase price of EUR 34.06, amounting to a total of EUR 169,999,995.49.

"I am pleased with the successful completion of the share buyback program. We launched the program because we as management are convinced of the prospects of our business model. Despite the volatile market environment, we succeeded in buying back the shares at an average purchase price below the current share price," explains CFO Marcus A. Ketter. "The acquired shares may be used for any purpose authorized by the Annual General Meeting of April 19, 2018 and there are currently no plans to cancel the shares."

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GEA Group AG published this content on 03 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2023 10:37:02 UTC.