- WKN: 606214
- ISIN: DE0006062144
- Land: Deutschland
Nachricht vom 31.10.2016 | 22:43
Covestro AG: Disclosure of information to a buy-back programme pursuant to Art. 2 (1) of Commission Delegated Regulation (EU) 2016/1052
Covestro AG / Share buy-back 31.10.2016 22:43 Dissemination of a Post-admission Duties announcement, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
Subject: Covestro AG: Disclosure of information to a buy-back programme pursuant to Art. 2 (1) of Commission Delegated Regulation (EU) 2016/1052 Information on issuer and content: Name: Covestro AG Address: Kaiser-Wilhelm-Allee 60, 51373 Leverkusen Content of the publication: Covestro AG / Buy-back programme Disclosure pursuant to Art. 2 (1) of Commission Delegated Regulation (EU) 2016/1052 Information relating to a buy-back programme On June 22, 2016 the Executive Board of Covestro AG (the 'Company') with corporate seat in Leverkusen (ISIN DE0006062144) resolved to exercise in part the authorization granted by the general meeting of the Company on September 1, 2015 to acquire own shares. The approval by the Supervisory Board is not required. The acquisition of own shares will be effected by Covestro Deutschland AG, a 100% subsidiary of the Company. 1. Purpose of the programme The acquired own shares will be transferred to persons employed by the Company or certain affiliated companies in the context of an employee share participation programme in November 2016. Therefore, the sole purpose of the buy-back programme is to meet obligations within the meaning of Article 5 (2) lit. (c) of Regulation (EU) No 596/2014 of April 16, 2014. 2. Maximum pecuniary amount allocated to the programme The maximum pecuniary amount allocated to the programme (i.e. the maximum total purchase price for the acquisition of shares in the Company excluding incidental acquisition costs) amounts to EUR 6,950,000.00. The conditions for trading pursuant to Art. 3 of Commission Delegated Regulation (EU) 2016/1052 of March 08, 2016 will be complied with. 3. Maximum number of shares to be acquired The maximum number of shares to be acquired can be derived by dividing the above mentioned maximum pecuniary amount of EUR 6,950,000.00 by the average of the volume weighted average prices for the trading days within the purchase period. Based on the share price as shown in XETRA on October 28, 2016 (closing price), the maximum number of shares would be 129,327 (representing approximately 0.064% of the outstanding shares). 4. Duration of the programme The buy-back programme shall be effected during the period from November 01, 2016 to November 04, 2016. 5. Further details The buy-back programme will be carried out by Deutsche Bank Aktiengesellschaft(the 'Bank')which will, within the aforementioned time period, make its decisions regarding the exact timing of the purchase of shares in the Company independently from, and without influence by, the Company. The Bank will also undertake vis-à-vis the Company to comply with the conditions for trading pursuant to Art. 3 of Commission Delegated Regulation (EU)2016/1052 of March 08, 2016. Information on the transactions relating to the buy-back programme will be publicly disclosed in an adequate manner in accordance with Art. 2 (3) Sentence 1 in conjunction with (2) of Commission Delegated Regulation (EU) 2016/1052 of March 08, 2016 no later than by the end of the seventh daily market session following the date of execution of such transactions. The Company will also post all transactions disclosed on its website (www.covestro.com) in the section 'Investor Relations' in accordance with Art. 2 (3) Sentence 2 of Commission delegated Regulation (EU) 2016/1052 of March 08, 2016 and will keep that information available to the public for at least a 5-year period from the date of adequate public disclosure. Leverkusen, October 31, 2016 31.10.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: Covestro AG Kaiser-Wilhelm-Allee 60 51373 Leverkusen Germany Internet: www.covestro.com End of Announcement DGAP News-Service
GBC im Fokus
IGEA Pharma N.V. Realignment to CBD extraction
The goal is to become the quality and cost leader in the field of CBD in Europe. To this end, a GMP pharma compliant plant is being built in Switzerland. The supercritical CO2 extraction process is to be used to achieve the highest standard of quality. The CBD market is growing strongly and with the focus on quality leadership and pure extraction, IGEA Pharma's new business model should be able to occupy an attractive niche market. With the proprietary supercritical CO2-extraction technology, other markets such as vanilla, rose or rosemary can be developed in the medium term. Based on our DCF model, we have determined a fair value of € 1.05 (CHF 1.13) per share and assign a BUY rating.
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