- WKN: A1EWWW
- ISIN: DE000A1EWWW0
- Land: Deutschland
Nachricht vom 13.03.2018 | 19:12
adidas AG: adidas AG to initiate a multi-year share buyback program
adidas AG / Key word(s): Share Buyback
FOR IMMEDIATE RELEASE March 13, 2018
AD-HOC: adidas AG to initiate a multi-year share buyback program
The program will be executed by buying back shares via the stock exchange under the authorization granted by the Annual General Meeting on May 12, 2016. The vast majority of the share buyback program will be financed through the company's net cash position as well as the expected strong operating cash flow generation in the years ahead. At the same time, adidas AG intends to make use of available attractive conditions for debt financing on the capital markets in order to finance the share buyback program.
The authorization given by the Annual General Meeting on May 12, 2016 covers the repurchase of up to 10% of the company's share capital on the stock exchange through to May 11, 2021. As the company already made use of this authorization for the third tranche of its previous shareholder return program, adidas AG has the right to repurchase a remaining 8.98% of the company's share capital. This currently represents 18,793,418 shares.
While the company may use the repurchased shares for all purposes in accordance with the authorization granted on May 12, 2016 except for allocating shares to Executive Board members as a compensation component, adidas intends to cancel the vast majority of the repurchased shares.
In all other aspects, the share repurchases are envisaged to be conducted in accordance with the Regulation (EU) No. 596/2014 of April 16, 2014 and the Commission Delegated Regulation (EU) 2016/1052 of March 8, 2016. Further details will be published prior to the start of the share buyback program later in March 2018. The company reserves the right to discontinue the share buyback program at any time.
Please visit our corporate website: www.adidas-Group.com
|Phone:||+49 9132 84 0|
|Fax:||+49 9132 84 2241|
|ISIN:||DE000A1EWWW0, US00687A1079, US00687P1049|
|WKN:||A1EWWW, A0MNCC , 909676|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
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