CECONOMY AG
DGAP Post-admission Duties announcement: CECONOMY AG / Release of capital market information CECONOMY AG Share buyback - Notification pursuant to art. 5 para. 1 lit. a of the Regulation (EU) No 596/2014 ('MAR') and art. 2 para. 1 of the Delegated Regulation (EU) 2016/1052 ('Delegated Regulation') Düsseldorf, 25 October 2018 The Management Board of CECONOMY AG, Düsseldorf, (the 'Company') has resolved the buyback of ordinary bearer shares over the stock exchange as treasury shares by the Company in a value of up to EUR 90,000.00 (excluding costs of the acquisition). The buyback will be executed in three share buyback programs within c. two years (the 'Framework Program'). The first share buyback program was executed earlier this month. The second buyback program (the 'Second Share Buyback Program') will be executed between 25 October 2018 (first possible day of purchase) and 5 November 2018 (last possible day of purchase). The buyback within the Second Share Buyback Program shall be limited to a maximum of 2,924 ordinary shares of the Company. This corresponds to c. 0.0008 percent of the Company's registered share capital and of the share capital issued as ordinary shares. The maximum amount of money that may be incurred for the Second Share Buyback Program shall be EUR 35,000.00. The shares shall be solely acquired in the XETRA trading system of Frankfurt Stock Exchange. The maximum number of shares that shall be bought back with the Framework Program is determined by the closing price of the Company's ordinary shares in the XETRA trading system on three reference dates. On the basis of the closing price of the Company's ordinary shares in the XETRA trading system on 29 December 2017 (second reference date), the intended buyback volume corresponded to a buyback of a total of 9.183 ordinary shares of the Company. This corresponds to c. 0.0026 percent of the Company's registered share capital and of the share capital issued as ordinary shares. The sole purpose of the buyback is the performance of the Company's obligations to allot shares to the Company's employees within the meaning of art. 5 para. 2 lit. c MAR. The respective obligations result from a onetime commitment by the Company towards the employees of the Company to allot the shares in order to incentivize the employees. The buyback shall be executed on the basis of section 71 para. 1 no. 2 Stock Corporation Act (AktG) for the purpose of offering treasury shares to persons who are in an employment relationship with the Company. The buyback will be managed by a credit institution who will decide on the timing of the purchase of shares independently and without being influenced by the Company. The credit institution so instructed is obligated to the Company to comply with the trading conditions pursuant to art. 3 of the Delegated Regulation. Information regarding the transactions relating to the buyback program will be notified pursuant to art. 2 para. 2 and 3 of the Delegated Regulation by the end of the seventh trading day following the execution of such transactions. Moreover, pursuant to art. 2 para. 3 of the Delegated Regulation, the Company will publish the notified transactions on its website https://www.ceconomy.de under 'Investor Relations' in the segment 'Legal Announcements' and will ensure that the information remains publicly available for at least five years following the day of notification. CECONOMY AG
25.10.2018 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | CECONOMY AG |
| Benrather Straße 18-20 | |
| 40213 Düsseldorf | |
| Germany | |
| Internet: | www.ceconomy.de |
| End of News | DGAP News Service |
737639 25.10.2018
