ADIDAS AG
DGAP Post-admission Duties announcement: adidas AG
/ Disclosure Pursuant to Article 2 (1) of Commission Delegated Regulation (EU) No 2016/1052 supplementing Regulation (EU) No 596/2014 (MAR) | Purchase of Treasury Shares
Disclosure Pursuant to Article 2 (1) of Commission Delegated Regulation (EU) No 2016/1052 supplementing Regulation (EU) No 596/2014 (MAR) | Purchase of Treasury Shares
The share buyback program announced by adidas AG (the "Company") via ad hoc notification on June 29, 2021 will be conducted starting on July 1, 2021. Treasury shares of the Company with an aggregate acquisition cost of up to ? 550 million (excluding incidental purchasing costs), however in total no more than 14,691,492 shares, shall be repurchased via the stock exchange and/or a multilateral trading facility within the meaning of § 2(6) German Stock Exchange Act (Börsengesetz) over a period of time until December 31, 2021. Whereas the Company may use the repurchased shares for all purposes admissible under the authorization granted by the Annual General Meeting on May 12, 2021, it intends to cancel at least most of the repurchased shares. One or several independent banks may be assigned to carry out the buyback or parts thereof on behalf of and for the account of the Company. These banks make their decisions regarding the share buyback date independently of and uninfluenced by the Company. The Company's right to early termination of the mandate for one or all banks and/or to transfer the mandate to another bank or several other banks shall remain unaffected. The share buyback program may be suspended, discontinued and resumed at any time in compliance with all applicable statutory provisions. The price per repurchased share (excluding incidental purchasing costs) may not be more than 10% higher or lower than the average stock exchange price for the Company's shares as established in the opening auction of the electronic trading system on the Frankfurt Stock Exchange on the day of the creation of the repurchase obligation. Moreover, the mandated banks will be committed to observing all trading restrictions of Article 3 of the Commission Delegated Regulation (EU) No 2016/1052 of March 8, 2016 ("EU Regulation"). Accordingly, inter alia, no purchase price may be paid which exceeds the price of the last independent trade or the highest independent bid placed at the time of the purchase on the stock exchange on which the purchase is carried out, whichever value is the highest. Furthermore, no more than 25% of the average daily volume of shares on the stock exchange on which the purchase is carried out may be acquired. The average volume of shares is based on the average daily trade volume of the 20 trading days preceding the specific date of purchase. All transactions under the share buyback program will be reported pursuant to the requirements of Article 2 (3) EU Regulation no later than on the seventh trading day after their execution. Furthermore, the Company will publish the transactions on its website www.adidas-group.com and ensure that the information will be publicly accessible here for a period of at least five years from the day of disclosure. Herzogenaurach, June 30, 2021 adidas AG The Executive Board
30.06.2021 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | adidas AG |
| Adi-Dassler-Straße 1 | |
| 91074 Herzogenaurach | |
| Germany | |
| Internet: | www.adidas-group.com |
| End of News | DGAP News Service |
1213701 30.06.2021
