Nextensa Nv / sa: share buyback
NEXTENSA NV / SA: SHARE BUYBACK
Nextensa NV announces that the Board of Directors has decided to initiate a share buyback program to acquire up to 65,000 shares for a total amount not exceeding 4,800,000 euros within the limits set in the authorization (renewed ) share buyback as granted by the general meeting of shareholders on July 19, 2021. The objective of the share buyback is to enable Nextensa to meet its obligations resulting from the purchase plans for the benefit of its management general.
Nextensa recognizes the need for active and engaged managers who can guide the transformation into a mixed real estate investor and developer. In addition, based on past experience and current market practices and trends, the Nomination and Remuneration Committee and the Board of Directors are convinced that managers are more engaged and engaged when they can participate in the capital. of Extensa NV, as it aligns their interests. with those of the Company and its shareholders. This method of remuneration is also part of the good governance pursued by the Company. Under the Corporate Governance Code, an appropriate part of the compensation package must be linked to performance. Nextensa applies all the provisions and directives of this Code to its long-term incentive plans.
The share buyback program will be implemented by an independent broker in accordance with applicable share buyback legislation. Nextensa will initiate the share buyback program on December 9, 2021 for a period ending no later than January 31, 2022. Nextensa will inform the market of the progress of the share buyback program in accordance with applicable legislation.
ABOUT NEXTENSA NV / SA
Nextensa NV / SA (formerly Leasinvest Real Estate) is a mixed real estate investor and developer since July 19, 2021. The company’s investment portfolio, which is spread over the Grand Duchy of Luxembourg (45%), Belgium ( 42%) and Austria (13%), had a total value as of 30/09/2021 of around 1.41 billion euros.
Nextensa is one of Luxembourg’s largest real estate investors. The development portfolio is spread over the Tour & Taxis and Cloche d’Or sites, where mixed developments (housing and offices) are underway and new sub-projects will be launched in the years to come. As of 09/30/2021, the total book value of this development portfolio was approximately € 0.3 billion.
The company is listed on Euronext Brussels and has a market capitalization of € 727.2 million (value on 12/08/2021).
VOOR MEER INFORMATION:
Michel Van Geyte,
Chief Executive Officer
T: +32 3 238 98 77
E: [email protected]