WISeKey Announces the End of its Class B Share Buyback Program
WISeKey International Holding Ltd. (WKEY) has completed its Class B share buyback program initiated on July 9, 2019. The company repurchased a total of 1,074,305 shares for CHF 1,471,609 at an average price of CHF 1.37 per share. The buyback aimed to support potential M&A transactions, employee share incentives, convertible loans, and available equity lines. The total allowed repurchase was 3,682,848 shares. This program reflects WISeKey's strategy to enhance shareholder value while ensuring financial flexibility.
- Completed the buyback program, demonstrating commitment to shareholder value.
- Repurchased a significant number of shares, which may enhance earnings per share (EPS).
- Strategically positioned repurchased shares for future M&A and employee incentives.
- None.
WISeKey Announces the End of its Class B Share Buyback Program
Zug, Switzerland, July 8, 2022 – Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules – WISeKey International Holding Ltd. (“WISeKey” or the “Company”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, AI and IoT company, announced today that it has completed its Class B share buyback program which was put in place on July 9, 2019. Since the start of this program, through different transactions, WISeKey has repurchased an aggregate of 1,074,305 shares, either directly as Class B Shares or indirectly by repurchasing its American Depositary Shares (“ADS”), for a total purchase value of CHF 1,471,609 at an average purchase price of CHF 1.37 per Class B share.
The maximum aggregate amount of Class B Shares, including ADSs the Company could have repurchased under the Class B share buyback program is 3,682,848 registered Class B shares with a nominal value of CHF 0.05 each. The purpose of the Class B shares buyback program launched in 2019, was to use the repurchased shares as a reserve for (1) potential M&A transactions, (2) WISeKey’s existing employee share incentive program, (3) convertible loans entered into by WISeKey and (4) on demand equity lines available to WISeKey.
Information about the completed Class B share buyback program is available under the following link: https://www.wisekey.com/investors/share-buyback/.
About WISeKey:
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.6 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com |
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FInSa’s predecessor legislation or advertising within the meaning of the FinSA, or within the meaning of any other securities regulation. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
The securities offered will not be, and have not been, registered under the United States of America Securities Act of 1933, as amended, and may not be offered or sold in the United States of America, absent registration or an applicable exemption from the registration requirements of said Act.
FAQ
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What was the purpose of the Class B share buyback program initiated by WISeKey?
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