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AutoWallis has purchased a significant amount of treasury shares to finance its acquisitions and ESOP program

2022-11-04

AutoWallis has purchased 5 million treasury shares in over-the-counter trading in order to finance future acquisitions and to provide the necessary shares for the Employee Share Ownership Plan (ESOP). The company purchased the 1.14 percent share package in over-the-counter trading at a rate of HUF 91.33.

Taking into account current stock exchange rates and analyst target prices that fall in the range of HUF 148-230, AutoWallis Plc. has decided to exercise its call option established in 2020 in connection with its equity investment in Iniciál Autóház, and to purchase Taródy Operatív Kft’s share package of 5,024,784 AutoWallis shares at a rate of HUF 91.33 as part of an over-the-counter transaction, equal to 1.14 percent of the total shares of the Budapest Stock Exchange-registered company. The purpose of the purchase is to use the shares for share swap acquisitions and to provide part of the amount needed for the Employee Share Ownership Plan.