Amsterdam, 9 August 2019 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce the completion of its share repurchase program.
The company repurchased a total of 2,915,630 shares for a total consideration of EUR 72,234,898 from April 9, 2019 to August 9, 2019. These repurchases were made as part of the company’s repurchase program, which was announced on April 8, 2019 and was initiated to return cash to shareholders and fund future share-based employee compensation programs. As such AMG intends to cancel 2,000,000 shares and is retaining the residual amount in treasury to satisfy employee compensation obligations.
Share Repurchase Program
|Overall Results Share Repurchase Program:|
|Total Repurchase Amount in Shares||2,915,630|
|Cumulative Repurchase Amount||EUR 72,234,898|
|Cumulative Quantity Repurchased||2,915,630|
|Cumulative Average Repurchase Price||EUR 24.78|
|Start Date||9 April 2019|
|End Date||9 August 2019|
|Percentage of program completed as at 9 August 2019||100.00%|
Overview of details of last 5 trading days:
|Trade Date||Quantity Repurchased||Average |
|5 August 2019||9,097||EUR 20.00||EUR 181,904|
|6 August 2019||35,000||EUR 19.91||EUR 696,685|
|7 August 2019||28,645||EUR 19.61||EUR 561,852|
|8 August 2019||3,005||EUR 19.93||EUR 59,892|
|9 August 2019||60,180||EUR 19.70||EUR 1,185,575|
|Total1||135,927||EUR 19.76||EUR 2,685,908|
1All shares bought on Euronext Amsterdam
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4979
Certain statements in this press release are not historical facts and are “forward looking.” Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward-looking statements will not be achieved. These forward-looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward-looking statement is based.