Under the proposed stock repurchase program, the company will buy back up to 100 million shares through private deals, and then cancel these shares.
The program is open to shareholders who individually own more than 20 million shares, or to groups of no more than five shareholders collectively owning more than 40 million shares.
The program is subject to approval of the Board of Directors at the upcoming board meeting in March, which will include newly elected board members.
"If you are a shareholder with more than 20 million shares, or a group of fewer than six shareholders with more than 40 million shares, please reach out to us before the board meeting," said Anderl.
The program would benefit shareholders by allowing them to cash in their positions immediately, rather than having to sell in small amounts over a long period of time.
"This will be a good opportunity for shareholders who don't want to invest in the future and want to liquidate their positions quickly," says Anderl.
The discount will be substantial and subject to negotiation between the company and participating shareholders.

Source prnewswire