adidas AG (XTRA:ADS) commences share repurchases on July 1, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 12, 2021. As per the mandate, the company is authorized to repurchase up to 20,041,619 shares, representing 10% of its share capital. In the event of the repurchase being carried out via the stock exchange, the consideration per share paid by the company (excluding incidental purchasing costs) may not be more than 10% higher or lower than the average stock market 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 entering into the repurchase obligation. In the event of a public invitation to submit sale offers, the consideration per share paid by the company (excluding incidental purchasing costs) may not be more than 10% higher or less than 20% lower than the non-weighted average closing price for the company’s shares in the electronic trading system on the Frankfurt Stock Exchange on the last three trading days prior to the acceptance of the sale offers. In the event of a public sales offer or a purchase by granting tender rights, the consideration per share paid by the company (excluding incidental purchasing costs) may not be more than 10% higher or less than 20% lower than the non-weighted average closing price for the company’s shares in the electronic trading system on the Frankfurt Stock Exchange on the last five trading days prior to the day of Executive Board‘s final decision on offering or granting tender rights. The repurchased shares may either be redeemed and cancelled or resold through a public offer made to all shareholders, used to service subscription or conversion rights or obligations or the right to delivery of shares based on bonds issued by the company or its subordinated companies. The company may also use the repurchased shares as consideration in connection with mergers, (also the indirect) acquisition of companies and the acquisition or transfer of intellectual property rights or intangible property rights. The authorization will be valid till May 11, 2026. As of March 2021, the company had 200,416,186 registered no-par-value shares outstanding and held 5,350,126 shares in treasury. On June 29, 2021, the company initiated a Market Repurchase. Under the program, the company will repurchase up to €550 million worth of its shares. The repurchased shares will be cancelled. The program will commence from July 1, 2021 will run until the end of the year 2021.