Theon International Plc (THEON) announced a share buyback program to support its employee incentive plan. The company will repurchase up to 1.4 million ordinary shares by June 5, 2026. This follows shareholder approval at a June 5, 2025, meeting.
The buyback is part of a broader strategy to implement a long-term employee incentive plan. Theon intends to use a “safe harbor” exemption under the Market Abuse Regulation (Regulation (EU) No. 596/2014) for future buyback programs.
Venetus Limited, Theon’s majority shareholder, received an exemption from the Cyprus Securities and Exchange Commission. This exemption prevents the need for a mandatory takeover bid, which could have resulted from the increase in voting rights due to the buyback.
Theon also plans to implement a share liquidity plan to improve trading efficiency. Information on ongoing share repurchases will be posted on the company website.
Theon Group designs and produces advanced night vision and thermal imaging equipment for defense and security. Operating globally since 1997, the company maintains a significant presence in various countries, including Greece, Cyprus, Germany, the Baltics, the United States, Gulf States, Switzerland, Denmark, Belgium, Singapore, and South Korea.
Over 220,000 Theon systems are currently in use by armed and special forces in 71 countries, 26 of which are NATO members. Theon International Plc has been listed on Euronext Amsterdam (AMS: THEON) since February 2024. Investors can contact Nikos Malesiotis in Investor Relations and media can contact Elli Michou for further information.
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