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DRÄGERWERK AG & CO. KGAA

(DRW3)
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PRESS RELEASE : Drägerwerk AG & Co. KGaA: Notification pursuant to Art. 5 (1) of the Regulation (EU) No 596/2014 and Art. 2 (1) of the Delegated Regulation (EU) 2016/1052

10/01/2021 | 08:41am EST

DGAP-News: Drägerwerk AG & Co. KGaA / Key word(s): Miscellaneous Drägerwerk AG & Co. KGaA: Notification pursuant to Art. 5 (1) of the Regulation (EU) No 596/2014 and Art. 2 (1) of the Delegated Regulation (EU) 2016/1052 2021-10-01 / 14:40 The issuer is solely responsible for the content of this announcement.

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Drägerwerk AG & Co. KGaA ("Dräger") will engage in a share buyback. During November 2, 2021 and probably November 17, 2021 Dräger intends to buy back approximately 70.000 of its own preferred shares. The share buyback serves the implementation of the employee participation program resolved on 27 September 2021 by the executive board of the Drägerwerk Verwaltungs AG, i.e. the shares are not cancelled but remain in the share accounts of the participating employees during the two-year lock-up period. With a similar employee participation in the employee participation program as in 2020, Dräger is likely to acquire approximately 70,000 preferred shares on the capital market for the employee participation program. Only in the theoretically possible event that all authorized employees participate fully in the employee participation program, a total of up to 648,000 units of own preferred shares would be repurchased. The share buyback principally complies with rules and regulations set forth in Sec. 71 (1) Sentence 1 No.2 AktG (Aktiengesetz - German Stock Corporation Act). The buyback of preferred shares held by persons not employed by the Company or any associated company, neither at the present time nor in the past, will take place in accordance with the authorization issued by the Company's annual shareholders' meeting dated 07 May 2021, which permits the buyback of up to 10 percent of capital stock held in the form of own shares. A bank will be tasked with the buyback. The bank will make its decisions concerning the time of purchase of the preferred shares independently of Dräger and free of its influence. The right of Dräger to terminate its contract with the bank early and assign the task to a different bank remains unaffected. In both cases, the buyback complies with the so-called safe-harbor rules set forth in Art. 5 of the Regulation (EU) No 596/2014 in connection with the Delegated Regulation (EU) 2016/1052. The buyback will be made on the stock exchange. The purchase price will comply with the requirements set forth in the safe-harbor rules. In addition, the purchase price per preferred share (excluding acquisition charges) of those preferred shares to be acquired on the basis of the authorization issued by the annual shareholders' meeting may not exceed or fall below the price of the preferred shares in the opening auction in XETRA trading on the Frankfurt Stock Exchange on the trading day in question by more than 10 percent. The share buyback may be suspended and resumed at any time in accordance with the relevant legal guidelines. The transactions will be announced by the end of the seventh trading day after their conclusion at the latest in a method in accordance with the requirements set forth in Art. 2 (2) of the Delegated Regulation (EU) 2016/1052. Dräger will report on the course of the buyback program in accordance with the legal provisions on the Company's website (www.draeger.de) in the Investor Relations section. Lübeck, Germany, October 1, 2021 Executive Board Drägerwerk Verwaltungs AG, acting as the general partner of Drägerwerk AG & Co. KGaA Moislinger Allee 53-55 23558 Lübeck, Germany www.draeger.com Disclaimer This release contains statements on the future development of Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date and have been prepared to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail risks and uncertainties beyond the Company's control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, Dräger does not assume any obligation to update the forward-looking statements contained in this report. You will find all important financial dates on our Company website at www.draeger.com under Investors/Financial Calendar.

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2021-10-01 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      Drägerwerk AG & Co. KGaA 
              Moislinger Allee 53-55 
              23542 Lübeck 
              Germany 
Phone:        +49 (0)451 882-0 
Fax:          +49 (0)451 882-2080 
E-mail:       info@draeger.com 
Internet:     www.draeger.com 
ISIN:         DE0005550602, DE 000 555 063 6, DE 000 555 071 9 
WKN:          555060, 555063 Vorzüge, 555071 Genussschein D 
Indices:      SDAX 
Listed:       Regulated Market in Berlin, Frankfurt (Prime Standard), Hamburg, Hanover; Regulated Unofficial Market in 
              Stuttgart, Tradegate Exchange 
EQS News ID:  1237614 
 
End of News   DGAP News Service 
=------------ 

1237614 2021-10-01

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1237614&application_name=news

(END) Dow Jones Newswires

October 01, 2021 08:40 ET (12:40 GMT)

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Financials
Sales 2021 3 226 M 3 640 M 3 640 M
Net income 2021 156 M 175 M 175 M
Net Debt 2021 129 M 146 M 146 M
P/E ratio 2021 6,66x
Yield 2021 0,34%
Capitalization 1 000 M 1 128 M 1 128 M
EV / Sales 2021 0,35x
EV / Sales 2022 0,31x
Nbr of Employees 15 883
Free-Float 61,4%
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 5
Last Close Price 55,20 €
Average target price 82,86 €
Spread / Average Target 50,1%
EPS Revisions
Managers and Directors
Stefan Dräger Chairman-Executive Board
Gert-Hartwig Lescow CFO & Head-Information Technology
Stefan H. Lauer Chairman-Supervisory Board
Anton Schrofner Head-Medical Division
Thorsten Grenz Independent Member-Supervisory Board
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