WISeKey appoints Zürcher Kantonalbank as Lead Manager of its intended share buyback programme
Jun 27, 2019
Geneva (Switzerland), June 27th, 2019 – WISeKey International Holding Ltd, (WIHN.SW) (“WISeKey”), a Swiss based cybersecurity and Internet-of-Things company, announced today that it has signed a mandate with Zürcher Kantonalbank as Lead Manager of its previously announced and intended share buyback programme.
The share buyback will be executed on the ordinary trading line and not for cancellation purposes as previously announced since the company wishes to use these shares as a reserve for future M&A transactions.
It is intended to start the programme mid of July subject to the final approval by the Swiss Takeover Board. Any share buyback programme, once regulatory approval has been obtained and launched, may be suspended or discontinued at any time for various reasons, including to explore a potential acquisition opportunity.
The Board of Directors' authorization of a share buyback programme reflects its confidence in the long-term value of WISeKey’s market position, its financial performance and substantial growth opportunities. The company intends to fund the share buyback programme from currently available funds, which as at May 31, 2019 were approximately USD 25 million.
We believe that, as a global cybersecurity and IoT player, WISeKey is well positioned to take advantage of substantial opportunities in the cybersecurity and IoT market and to continue its growth strategy, both organically and through acquisitions. We are committed to building long-term value for our shareholders.
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey Microprocessors Secures the pervasive computing shaping today's Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey's Swiss based cryptographic Root of Trust ("RoT") provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people.
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
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