EVS announces share buyback program of up to EUR 10 million
The program is a testimony to EVS’s commitment to enhancing shareholder value and demonstrates the confidence of the company in the long-term growth perspectives
- Liège, Belgium | November 25th, 2024
EVS, a global leader in live video production technology, announces that its Board of Directors has authorized a share repurchase program to buy back up to EUR 10 million of the company’s outstanding common shares over the next 24 months.
Details of the share buyback program
- Program size: up to EUR 10 million and up to 355.000 shares
- Timeframe: effective as of December 1st, 2024 with completion at the latest by November 30th, 2026
- Methods: buybacks will be conducted through open market transactions subject to market conditions and compliance with the applicable regulations and with the shareholders’ authorization granted on June 7th, 2022
- Funding: the program will be funded through cash reserves, ensuring continued financial flexibility for growth initiatives
Strategic rationale
The buyback program underscores EVS’s commitment to returning capital to shareholders by optimizing the earnings per share while maintaining the flexibility to invest in strategic opportunities. The company also wants to underscore its belief in the future growth opportunities that lay ahead and that will contribute to generate increased value for the company and its shareholders.
Comments
Serge Van Herck, CEO, comments:
“The initiation of this share buyback program reflects EVS’s strong financial position and our commitment to delivering long-term value to our shareholders. This program is strategically aligned with our goal of optimizing capital allocation, demonstrating confidence in the company’s growth trajectory, and enhancing shareholder returns.
The Board of Directors will carefully evaluate and decide on the optimal use of the repurchased shares at a later stage. Potential options include the cancellation of the shares, their use to cover employee warrant programs, or leveraging them in future acquisition transactions. This flexibility ensures that the program supports both immediate and strategic long-term goals.”
Discretionary Suspension or Termination of Share Buyback Program
The Company reserves the right to suspend or terminate the share buyback program at any time based on prevailing market conditions, regulatory considerations, or material developments impacting the Company. Any decision to modify or discontinue the program will be guided by the Company's assessment of its financial position, strategic priorities, and shareholder interests.
About EVS
We create return on emotion
EVS is globally recognized as a leading provider in live video technology for broadcast and new media productions. Spanning the entire production process, EVS solutions are trusted by production teams worldwide to deliver the most gripping live sports images, buzzing entertainment shows and breaking news to billions of viewers every day – and in real time. As we continue to expand our footprint, our dedication to sustainable growth for both our business and the industry is clearly demonstrated through our ESG strategy. This commitment is not only reflected in our results, but also in our high ratings from different agencies.
Headquartered in Liège, Belgium, the company has a global presence with offices in Australia, Asia, the Middle East, Europe, North and Latin America, employing over 700 team members and ensuring sales, training, and technical support to more than 100 countries.
EVS is a public company traded on Euronext Brussels: EVS, ISIN: BE0003820371. EVS is, amongst others, part of the Euronext Tech Leaders and Euronext BEL Mid indices.
Media Contacts
For more info about this press release, or to set up an interview with EVS, please contact:
Veerle De Wit – Chief Financial Officer
Tel: +32 4 361 7004 – Email: v.dewit@evs.com
Sébastien Verlaine – Senior Brand & Corporate Communications Manager
Tel: +32 4 361 5809 – Email: s.verlaine@evs.com
Forward Looking Statements
This press release contains forward-looking statements with respect to the business, financial condition, and results of operations of EVS and its affiliates. These statements are based on the current expectations or beliefs of EVS's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company’s concentration on one industry, decline in demand for the company’s products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. EVS undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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