OLDENBURG (dpa-AFX) - Photo services provider Cewe plans to buy back its own shares by spring 2024. Starting this Wednesday, up to 250,000 treasury shares are to be acquired by the end of May 2024, the SDax company announced in Oldenburg on Monday. The Executive Board is planning a maximum budget of 20 million euros for this. Based on the current stock exchange prices, this would correspond to a share of around 3.3 percent of the company's capital stock. According to a Group spokesperson, Cewe has already repurchased 3.1 percent of the share capital through previous share buybacks. On the stock exchange, Cewe shares rose slightly.

Based on an advance resolution at last year's Annual Shareholders' Meeting, Cewe says it can buy back up to ten percent of its share capital in the form of treasury shares. According to a spokesperson, a specific purpose has not been defined./ngu/jha/