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EQS-CMS: Palfinger AG: Other admission duties to follow

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EQS Post-admission Duties announcement: Palfinger AG / Notification on
buy-back program
Palfinger AG: Other admission duties to follow

24.06.2022 / 16:06
Dissemination of a Post-admission Duties announcement transmitted by EQS –
a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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PALFINGER AG: Acquisition of own shares in the amount of 7.52% on the
basis of the reversal of the cross-shareholding with SANY

Bergheim, June 24, 2022

As already published on December 15, 2021 the Management Board of
PALFINGER AG has – on the basis of the authorization granted by the 33rd
Annual General Meeting on April 7, 2021 in accordance with section 65 (1)
(8) of the Austrian Stock Corporation Act (Aktiengesetz) and published on
April 7, 2021 via an electronic information dissemination system – for
purposes of a reversal of the cross-shareholding between PALFINGER and
SANY HEAVY INDUSTRIES decided to acquire a total of 2,826,516 of PALFINGER
AG’s own shares over-the-counter from SANY EUROPE GMBH. The transaction
was expected to be closed by December 31, 2023. This corresponds to 7.52%
of the share capital. The Supervisory Board of PALFINGER AG has resolved
to consent to the reversal of the cross-shareholding and this acquisition
of own shares at its board meeting on December 13, 2021. The completion of
this transaction and the transfer of the 2,826,516 own shares from SANY
EUROPE GMBH is now expected to take place on June 29, 2022. The transfer
of the own shares to PALFINGER AG together with a cash payment of
approximately EUR 17 million is made in compensation for the transfer of
the equity interest in Sany Automobile Hoisting Machinery Co., Ltd. The
purchase will be carried out in accordance with the agreement of December
2021 at a purchase price of EUR 35.20 per share. The repurchase has no
effect on the listing of PALFINGER AG shares.

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ABOUT PALFINGER AG
The international mechanical engineering firm of PALFINGER is the world’s
leading producer of innovative crane and lifting solutions. With around
12,000 employees, 34 manufacturing sites and a worldwide network of
dealerships and service centers at over 5,000 locations, PALFINGER takes
on its customers’ challenges and creates added value. PALFINGER is
consistently continuing on its course as a provider of innovative,
complete solutions that deliver increased efficiency and better
operability, while leveraging the potential of digitization along the
entire production and value chain. 

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and
in 2021 achieved record revenue of EUR 1.84 billion. In 2022, PALFINGER
celebrates its 90th anniversary under the tagline “Celebrating the future
since 1932.”

Further inquiries:  
Hannes Roither | Group spokesperson | PALFINGER AG  
T +43 662 2281-81100 | [1]h.roither@palfinger.com 

Texts and accompanying images are available in the “News” section of
[2] www.palfinger.ag, [3] www.palfinger.com.
 

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24.06.2022

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Language: English
Company: Palfinger AG
Lamprechtshausener Bundesstraße 8
5020 Salzburg
Austria
Internet: www.palfinger.ag

 
End of News EQS News Service

1383663  24.06.2022 

References

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1. h.roither@palfinger.com
2. about:blank
3. about:blank

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