EVS announces share buyback program of up to EUR 10 million | 25.11.24

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EVS announces a share buyback program of up to EUR 10 million

The program demonstrates EVS’s commitment to increasing shareholder value and demonstrates the company’s confidence in its long-term growth prospects.

  • Liège, Belgium | November 25e2024

EVS, a global leader in live video production technology, announces that its Board of Directors has authorized a share buyback program to repurchase 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 10 million euros and up to 355,000 shares
  • Timetable: Effective from December 1, 2024 with completion no later than November 30e2026
  • Methods: Redemptions will be conducted through open market operations, subject to market conditions and compliance with applicable regulations and with shareholder approval granted on June 7e2022
  • Financing: The program will be funded from cash reserves, ensuring continued financial flexibility for growth initiatives

Strategic reasoning

The buyback program underlines EVS’s commitment to returning capital to shareholders by optimizing earnings per share while maintaining the flexibility to invest in strategic opportunities. The company would also like to underline its belief in the future growth opportunities that lie ahead that will help generate greater value for the company and its shareholders.

Comments

Serge Van Herck, CEO, says:

“The initiation of this share repurchase 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 increasing shareholder position. returns.

The Board of Directors will carefully evaluate and decide at a later stage on the optimal use of the purchased shares. Possible options include canceling the shares, using them to cover employee warrant programs, or using them in future acquisition transactions. This flexibility ensures that the program supports both immediate and long-term strategic objectives.”

Discretionary suspension or termination of the share repurchase program

The Company reserves the right to suspend or terminate the share repurchase program at any time based on prevailing market conditions, regulatory considerations or material developments impacting the Company. Any decision to modify or terminate the program will be determined by the Company’s assessment of its financial position, strategic priorities and shareholder interests.

About EVS

We create returns on emotion

EVS is recognized worldwide as a leading provider of live video technology for broadcast and new media productions. EVS solutions span the entire production process and are trusted by production teams around the world to deliver the most compelling live sports footage, vibrant entertainment shows and breaking news to billions of viewers every day – and in real time. As we continue to expand our footprint, our commitment to sustainable growth for both our company and the industry is clearly reflected in our ESG strategy. This dedication is reflected not only in our results, but also in our high ratings from various 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 more than 700 team members and providing sales, training and technical support in more than 100 countries.

EVS is a public limited company listed on Euronext Brussels: EVS, ISIN: BE0003820371. EVS is part of the Euronext Tech Leaders and Euronext BEL Mid indices, among others.

Media contacts

For more information about this press release or for an interview with EVS, please contact:

Veerle De Wit – Chief Financial Officer
Telephone: +32 4 361 7004 – Email: [email protected]

Sebastien Verlaine – Senior Brand & Corporate Communications Manager
Tel: +32 4 361 5809 – Email: [email protected]

Forward-Looking Statements

This press release contains forward-looking statements regarding the business, financial condition and results of operations of EVS and its subsidiaries. These statements are based on the current expectations or beliefs of EVS management and are subject to a number of risks and uncertainties that could cause the company’s actual results or performance to differ materially from those contemplated by such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the Company’s concentration in one industry, declining demand for the Company’s products and those of its subsidiaries, the inability to timely adopt new technologies, products and applications. development and introduction, and the loss of market access. share and price pressure due to competition that could cause the company’s actual results or performance to differ materially from those contemplated by such forward-looking statements. EVS undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.