BKS Bank AG commences an Equity Buyback Plan under the authorization approved on May 25, 2020.
February 21, 2022
Share
BKS Bank AG (WBAG:BKS) commences share repurchases on February 14, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 25, 2020. As per the mandate, the company is authorized to repurchase its own shares up to the maximum amount permitted by law. The purpose of the program is to use repurchased shares for making an offer to employees, executives and members of the Board of Management or the Supervisory Board of the company or an affiliated company. The shares will be repurchased at a price not more than 20% lower or higher than the average of the official unit prices for BKS Bank AG shares determined on the Vienna Stock Exchange on the three trading days preceding the purchase. This authorization is valid until November 29, 2022.
On February 9, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 100,000 ordinary shares, representing 0.23% of the total share capital. The lowest value to be paid for the repurchase may not be more than 20% lower than the average of the official unit prices for BKS ordinary shares determined on the Vienna Stock Exchange on the three trading days preceding the purchase and the highest value to be paid for the repurchase may be the average of the not exceed the official unit prices for BKS ordinary shares determined by the Vienna Stock Exchange on the three trading days preceding the purchase by more than 20%. The purpose of the buyback is primarily to use these shares to cover the BKS employee programs and BKS management programs 2022-2024. However, the Management Board reserves the right to use the repurchased shares for future employee campaigns. The shares should also serve this purpose to cover parts of the variable remuneration of the members of the Executive Board of BKS. The repurchases will commence from February 14, 2022, and will end by February 15, 2022.
Bank
BKS Bank AG (the Bank) is an Austria-based commercial bank. The Bank provides a range of financial services for private and corporate clients. The Bank diversifies its activities into three business divisions: The Corporate division; The Retail Banking division, and the Financial Markets division. The Corporate division provides consulting and banking services to corporate and business customers, offering, among others, financing solutions, investment models and tailored services, as well as leasing solutions. The Retail Banking division targets private customers and offers, among others, asset management, fund management and general banking services. The Financial Markets division is engaged in interbank trading, proprietary securities and derivatives trading, among others. The Bank is active in Austria and neighboring countries. With Oberbank and Bank fuer Tirol und Vorarlberg, the Bank forms so-called 3 Banken Group.
BKS BANK AG 
