News & Press
Shareholder basis very stable - Buyback of WFA shares to be resumed
15 Feb. 2023 / Pressemitteilungen
The CEO and the Supervisory Board have decided to resume the share buyback program, which expired on December 31, 2022, and to acquire up to a total of 55,000 treasury shares via the stock exchange in the period up to June 30, 2023. The shares will be purchased in accordance with the authorization granted by the Annual General Meeting on October 6, 2020. The acquired shares are to be used for all legally permissible purposes. The CEO will announce at the next Annual General Meeting how many shares have been acquired.
After the number of WFA shareholders increased from 534 to 1,330 in 2021 (+ 150%), the number increased again by 22% to 1,621 in 2022, although the share price fell significantly during the same period. While 757 shareholders increased their shareholding in 2021, these were offset by only 388 net sellers. In 2022, only one shareholder sold more than 10,000 shares. Since the Russian invasion of Ukraine about a year ago, the shareholder base has stabilized at a high level, a testament to how much confidence shareholders continue to have in the company.
This year, the Annual General Meeting (AGM) of Weng Fine Art AG is expected to take place in August. The Board's goal is to present a solution regarding its stake in Artnet by then.
The recent amendment of the Swiss Code of Obligations will in principle allow the management to hold the Annual General Meeting (AGM) of ArtXX AG in Germany in the future. This option shall be considered in principle, provided that this respective AGM does not have to be notarized. In principle, it would therefore be possible to schedule double events (AGM of WFA and AGM of ArtXX) during one day in the future, which would accommodate the shareholders who own stocks of both companies.