NEXTENSA NV/SA: SHARES REPURCHASE
Nextensa NV announces that the board of directors has decided to initiate a share repurchase programme to acquire up to 65,000 shares for a total amount of no more than 4,800,000 euros within the limits set down in the (renewed) share repurchase authorization as granted by the extraordinary general meeting of shareholders of 19 July 2021. The goal of the share repurchase is to enable Nextensa to meet its obligations resulting from the purchase plans for the benefit of its executive management.
Nextensa recognizes the need for active and committed managers that are able to guide the transformation into a mixed property investor and developer. Furthermore, based on previous 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 committed when they are able to participate in the capital of Extensa NV, as this aligns their interests with those of the Company and its shareholders. This remuneration method also fits in with the good governance that the Company pursues. Under the Corporate Governance Code a fitting part of the remuneration package should be linked to performance. Nextensa applies all the provisions and guidelines of this Code to its long-term incentive plans.
The share repurchase programme will be implemented by an independent broker in accordance with the applicable share repurchase legislation. Nextensa will initiate the share repurchase programme on 9 December 2021 for a period ending no later than 31 January 2022. Nextensa will notify the market on the advancement of the repurchase programme in accordance with the applicable legislation.
ABOUT NEXTENSA NV/SA
Nextensa NV/SA (previously named Leasinvest Real Estate) is a mixed property investor and developer since 19 July 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 on 30/09/2021 of approximately €1.41 billion.
Nextensa is one of Luxembourg’s biggest property investors. The development portfolio is spread over the Tour & Taxis and Cloche d’Or sites, where mixed (residential and office) developments are ongoing and new sub-projects will be launched in the coming years. On 30/09/2021 the total book value of this development portfolio was approximately €0.3 billion.
The company is listed on Euronext Brussels and it has a market capitalisation of € 727.2 million (value on 08/12/2021).
VOOR MEER INFORMATIE:
Michel Van Geyte,
Chief Executive Officer
T: +32 3 238 98 77