bfw properties: Shares bought back
bfw liegenschaften ag has completed the share buyback program announced at the beginning of March for a maximum of 10 percent of the share capital by issuing put options.
According to bfw liegenschaften ag, the exercise rate of the put options under the share buyback program was 99.11 percent, corresponding to 514,492 repurchased registered shares (category A). The Board of Directors will propose the repurchased shares for cancellation to the 2018 Annual General Meeting at the latest, it said. The share capital will be reduced accordingly after approval by the Annual General Meeting.
The share buyback program took place from March 22 to April 4, 2017 by means of tradable put options. The put options were allocated to the shareholders on March 22, 2017. Ten put options each entitled to tender one registered share (class A) at an exercise price of CHF 47. The put options were exercised on April 6, 2017 (European option).
A total of 5,144,920 put options were registered for exercise. The shares tendered correspond to a capital share of 9.91 percent with an equivalent value of CHF 24.18 million.
