Business Wire

ABB to Launch Share Buyback Program

Share

Following the completion of the divestment of its Power Grids business to Hitachi on July 1, 2020, and consistent with its overall capital structure optimization program, ABB will launch its previously announced share buyback program on July 23, 2020.

As part of its plan to return to shareholders net cash proceeds of $7.6–7.8 billion from the sale of Power Grids ABB initially intends to buy 10 percent1 of its issued share capital through this share buyback program. ABB will purchase a maximum of 180 million shares, in addition to those already held in treasury. The corresponding maximum buyback amount of CHF 4.2 billion for this program is based on ABB’s share price on July 21, 2020. The maximum number of shares that may be repurchased under the program on any given trading day is 2,188,145.

The total number of ABB’s outstanding shares currently amounts to 2,134,574,661. ABB currently holds 33,573,603 own shares in treasury.

The share buyback program is for capital reduction purposes and will be executed on a second trading line on the SIX Swiss Exchange (Valor: 35.767.961; ISIN: CH0357679619).

The program is planned to run from July 23, 2020 until the company’s Annual General Meeting (AGM) on March 25, 2021. At the AGM, ABB intends to request shareholder approval to cancel the shares purchased through this program and to announce next steps.

The share buyback program will be lead-managed by a bank mandated by ABB that will make its trading decisions concerning the timing of share repurchases independently of ABB, within pre-agreed parameters. ABB can change these parameters outside of its closed periods and if no inside information exists within ABB, if necessary.

The purchase price per share will not exceed the last independent closing price on the ordinary trading line on the SIX Swiss Exchange or the current best independent bid price on the ordinary trading line on the SIX Swiss Exchange, provided this is below the last independent closing price. In addition, customary spread on purchases on the second trading line on the SIX Swiss Exchange will be paid, observing the limitations of the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO). Payment for the shares will be made in cash.

The buyback program is being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”). Weekly updates on the program will be published on ABB’s investor relations website at https://global.abb/group/en/investors/investor-and-shareholder-resources and issued by press release.

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 110,000 talented employees in over 100 countries. www.abb.com

Important notice about forward-looking information

This press release includes forward-looking information and statements concerning the share buyback program. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, and are generally identifiable by statements containing words such as “intends”, “expects,” “plans”, or similar expressions. However, there are many risks and uncertainties, many of which are beyond our control, that could affect our ability to achieve any or all of our stated targets. Factors that could cause such differences include, among others, business risks associated with the volatile global economic environment and political conditions, costs associated with compliance activities, market acceptance of new products and services, changes in governmental regulations and currency exchange rates and such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.

1 Maximum 10 percent of the company’s issued share capital, including treasury shares

Contact information

ABB Ltd
Affolternstrasse 44
8050 Zurich
Switzerland

Media Relations
Phone: +41 43 317 71 11
Email: media.relations@ch.abb.com

Investor Relations
Phone: +41 43 317 71 11
Email: investor.relations@ch.abb.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

OpenGate Capital Strengthens Management Team with Tenured Chief Financial Officer3.8.2020 16:43:00 CESTPress release

OpenGate Capital, a global private equity firm, announced today that their senior leadership team has expanded with the addition of Heather Malloy who joined the firm today as Chief Financial Officer based in the firm’s Los Angeles office. Malloy is a tenured, private equity finance executive with an extensive background in corporate strategy, structuring, and systems. She is experienced in control buyouts, senior, junior, and mezzanine debt, structured finance, and asset-backed securities. Prior to joining OpenGate, Malloy was a management consultant at Riva Ridge Management, and she previously served as Chief Operating Officer and Chief Financial Officer at Strattam Capital for six years. In her role at OpenGate Capital, Malloy is responsible for the financial and administrative matters of OpenGate Capital, the funds under OpenGate’s management, and the financial supervision of OpenGate’s global portfolio companies. Andrew Nikou, OpenGate’s Founder and Chief Executive Officer stated,

Alpega Partners with project44 to Deliver Advanced Visibility in North America and Europe3.8.2020 16:15:00 CESTPress release

Alpega, a global provider of cloud-based transportation management systems (TMS), today announced as part of its growing value-adding partner ecosystem, it has partnered with project44, a global leader in supply chain visibility for shippers and logistics service providers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005311/en/ Alpega Partners with project44 to Deliver Advanced Visibility in North America and Europe (Photo: Business Wire) The partnership delivers real-time truckload tracking integration and serves Alpega customers of all industries and verticals across North America and Europe. “We are happy to join efforts with Alpega to serve our global community of customers,” said Tommy Barnes, Head of Global Network Partnerships at project44. “We want to enable supply chain professionals all over the world to make informed decisions based on high quality, real-time data, and drive more operational efficiencies

JEOL: Release of the New Scanning Electron Microscope JSM-IT700HR3.8.2020 16:00:00 CESTPress release

JEOL Ltd. (TOKYO:6951) (President & COO Izumi Oi) announces the release of a new scanning electron microscope (SEM), the JSM-IT700HR for unprecedentedly high throughput in August 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005011/en/ Note: The photo of the instrument is JSM-IT700HR/LA. (Photo: Business Wire) Development background Scanning electron microscopes are used in various fields, such as nanotechnology, metals, semiconductors, ceramics, medicine, and biology. In addition, SEM applications are expanding to include quality control as well as basic research. The demands are increasing for faster data acquisition of higher-quality SEM images and for easier confirmation of compositional information. Based on our award-winning predecessor of “InTouchScope™” series SEMs, the JSM-IT700HR is equipped with our in-lens Schottky field emission electron gun (FEG). This new powerful SEM satisfies the needs for obser

Immervision Orders Investigation by Ad Hoc Research to Clearly See Smartphone Camera Performance from End Users Point of View3.8.2020 15:00:00 CESTPress release

Immervision, the Montreal-based developer and licensor of patented, wide-angle optics and imaging technology, today announced its 2020 Smartphone Camera survey results in cooperation with Ad Hoc Research. Amid confusing end-user comments on photos and videos and disagreement between phone makers on what has to be done, Immervision decided to investigate what end-user like or don’t like from their phone’s cameras. It revealed no smartphone brand, even the flagship brands, is performing well in consumers’ experience in taking photos. The survey included 1,557 consumers located in California, China and South Korea who selected pictures they preferred amongst 10 images for each of the four scenes comprising city landscape and people. Photos were taken on settings from the same angle and under the same environmental conditions. Results were based on region, age, gender. Data was collected February 20 - March 5, 2020. Ad Hoc Research said, “Our study showed that with current functionalities,

Personalis, Inc. Launches NeXT Liquid Biopsy™, A High-Performance, Exome-Wide Liquid Biopsy Platform3.8.2020 14:17:00 CESTPress release

Personalis, Inc. (Nasdaq: PSNL), a leader in advanced genomics for cancer, today announced the launch of NeXT Liquid Biopsy, a high-performance, exome-scale, tumor-profiling platform that utilizes blood samples from advanced-stage solid tumor cancer patients. NeXT Liquid Biopsy, paired with Personalis’ leading ImmunoID NeXT™ tissue profiling platform, enables a more comprehensive immuno-genomics view of the tumor that can now be monitored over time from blood samples. NeXT Liquid Biopsy monitors over twenty times more genes than the majority of liquid biopsy cancer panels on the market today. These capabilities will help biopharmaceutical companies advance their understanding of tumor biology, including resistance mechanisms, to aid the development of next-generation cancer therapies. Personalis CEO, John West, said, “Solid tumor biopsies and liquid biopsies complement each other, and it is important to utilize both in cancer research. Solid tumor biopsies can yield information about m

Patient Safety Movement Foundation, the American Society of Anesthesiologists, The Leapfrog Group, and the International Society for Quality in Health Care Join Forces for #UniteForSafeCare World Patient Safety Day Campaign3.8.2020 14:00:00 CESTPress release

Today, four leading global organizations dedicated to fighting preventable deaths due to medical errors announced their partnership to co-convene the #uniteforsafecare program on World Patient Safety Day (September 17, 2020). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200803005136/en/ #uniteforsafecare co-convener logos (Graphic: Business Wire) In June, the Patient Safety Movement Foundation announced the wide-ranging campaign to bring attention to system-wide improvements that will ensure better health worker and patient safety outcomes, called #uniteforsafecare. Now, the organization will be joined by the American Society of Anesthesiologists (ASA), The Leapfrog Group, and International Society for Quality in Health Care (ISQua) in co-convening the slate of programming, which includes a virtual physical challenge to raise awareness of the issue; collaboration with the National Association for Healthcare Quality’s annua

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom