KWS SAAT SE & CO. KGAA
DGAP Post-admission Duties announcement: KWS SAAT SE / share buyback KWS SAAT SE: Release of a capital market information KWS SAAT SE / share buyback program / Executive Board decides to extend the current share buyback program Disclosure pursuant to Article 5 (1) point (a) of the Regulation (EU) No 596/2014 and Article 2 (1) of the Commission Delegated Regulation (EU) No 2016/1052 Einbeck, February 7, 2019. On October 16, 2018, the Executive Board of KWS SAAT SE (ISIN DE0007074007) adopted a resolution to acquire shares in its own company for its Employee Stock Program in accordance with Section 71 (1) No. 2 of the German Stock Corporation Law (AktG). The sole purpose of acquiring the shares is to fulfill obligations from the Employee Stock Program within the meaning of Article 5 (2) point (c) of Regulation (EU) 596/2014. The shares were to be bought back between January 9, 2019, and February 8, 2019; the subscription period for employees ended on January 23, 2019. The Executive Board of KWS SAAT SE decided on February 6, 2019, to extend the final deadline for buying back shares (February 8, 2019) by three weeks to no later than March 1, 2019, so that all the shares subscribed to by employees can be purchased. Apart from that, the stipulations of the Employee Stock Program, as originally adopted by the Executive Board on October 16, 2018, continue to apply. The share buyback program will still be conducted by a bank, which will decide on the precise time at which shares in the company are acquired within the above-stated period, independently and uninfluenced by the company. The shares will exclusively be bought back on the stock market in such a way that their price is not impaired. The maximum purchase price paid per share (excluding incidental transaction charges) may not exceed the stock market price of a KWS SAAT SE share on the trading day, as determined during the opening auction in Xetra trading at Frankfurt Stock Exchange, by more than 5% nor fall below such market price by more than 5%. In addition, in accordance with the conditions for trading under Article 3 of Commission Delegated Regulation (EU) No 2016/1052, the purchase price shall not be higher than the higher of the price of the last independent trade conducted on the stock market where the purchase is carried out and the highest last independent purchase bid on the stock market where the purchase is carried out, including when the shares are traded on different trading venues. In accordance with Commission Delegated Regulation (EU) No 2016/1052, no more than 25% of the average daily volume of the shares on the stock exchange on which the purchase is carried out shall be purchased on any trading day; the average daily volume shall be based on the average daily volume traded on 20 trading days preceding the specific date of purchase. In addition, the share buyback can be suspended and resumed at any time in compliance with the applicable statutory requirements. KWS SAAT SE will continue to announce the progress of the share buyback program to an appropriate extent on a weekly basis. The company currently holds 6,322 treasury shares or approximately 0.1% of the capital stock. Einbeck, February 7, 2019. KWS SAAT SE The Executive Board
07.02.2019 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | KWS SAAT SE |
| Grimsehlstraße 31 | |
| 37555 Einbeck | |
| Germany | |
| Internet: | www.kws.de |
| End of News | DGAP News Service |
773533 07.02.2019
