Oerlikon announced on November 5, 2019, that its Board of Directors has decided to initiate a share buyback program. Over a period of up to 36 months, shares amounting to a maximum of 10% of the share capital recorded in the commercial register are expected to be repurchased in the open market over the ordinary trading line on the SIX Swiss Exchange. The effective size of the buyback program depends on, among other things, the number of treasury shares held and the market situation. Based on the closing share price on November 4, 2019, the total value of the shares to be bought back is expected to be up to CHF 350 million. The share buyback program is executed in cooperation with the Zürcher Kantonalbank and started on November 7, 2019. Oerlikon intends to utilize the repurchased securities to finance potential inorganic growth and to fund its global long-term employee incentive program.
In accordance with Article 123 (1) c) of FMIO, the maximum daily buyback amount is 273 275 shares.