TKH rises after closing sale of French activities, new buyback plan

TKH

29/09/2023 09:14

** Shares in TKH Group  TWKNc.AS  rise 3.5% after the Dutch
tech company closed the divestment of its TKH France activities
and announced a new share buyback programme
    ** The divestment results in a one-off net profit
contribution of around 21 million euros ($22.3 million) for the
company in Q3 and a net cash inflow of about 70 million euros
    ** TKH will initiate a share buyback programme of up to 25
million euros in the coming months as part of the divestment
    ** "The cash inflow is larger than we anticipated and offers
room for a well-timed SBB," KBC Securities says
    ** The broker expects Q3 to "show weakness", but sees the
current headwinds as temporary and notes it offers a great
investment opportunity
    ** The stock, up around 1% YTD, is on track for best day
since July 7

($1 = 0.9431 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))