HOCHTIEF Aktiengesellschaft
HOCHTIEF Aktiengesellschaft: Release of a capital market information
HOCHTIEF Aktiengesellschaft
/ Update of the disclosure pursuant to Art. 5 (1) lit. a) of Regulation (EU) No. 596/2014 and Art. 2 (1) of Delegated Regulation (EU) No. 2016/1052
Essen, Germany, 14 May 2020 On 12 March 2020 and in accordance with Art. 5 (1) lit. a) of Regulation (EU) No. 596/2014 and Art. 2 (1) of Delegate Regulation (EU) No. 2016/1052, HOCHTIEF Aktiengesellschaft announced a share buy-back program to be executed between 10 March 2020 and 31 December 2020, under which up to 6,908,597 no-par-value shares in HOCHTIEF Aktiengesellschaft (WKN: 607000, ISIN: DE0006070006) could be purchased, which corresponds to approx. 9.8% of the current share capital of EUR 180,855,569.92 (‘2020 Share Buy-back Program’). Following the respective resolution by the Executive Board, this information was also disclosed by way of an ad hoc announcement on 9 March 2020. The information disclosed is hereby updated as follows: So far, the 2020 Share Buy-Back Program had been based on the authorization granted by the Annual General Meeting of 11 May 2016. This authorization, which was applicable until 10 May 2021, entitled the Company to buy back shares in an amount of up to 10% of the share capital that existed at the time of the resolution by the Annual General Meeting. Under the 2020 Share Buy-Back Program, the repurchased shares may be used for all purposes in accordance with the authorization and as permitted under stock corporation law. The purchase price per share (excluding incidental acquisition costs) was limited to 10% above and below the arithmetic mean of the share price in the closing auction of Xetra trading (or an equivalent successor system) on the Frankfurt Stock Exchange during the last ten stock market trading days prior to the commitment transaction (Verpflichtungsgeschäft). From now on, the 2020 Share Buy-Back Program will be based on the authorization granted by the Annual General Meeting of 28 April 2020. This authorization, which is limited until 27 April 2025, allows the Company to buy back shares in the amount of up to 10% of the share capital at the time of the resolution by the Annual General Meeting – corresponding to 9.8% of the Company’s share capital as of today. Under the Share Buy-Back program 2020, the repurchased shares may be used for all purposes in accordance with the authorization and as permitted under stock corporation law. The purchase price per share (excluding incidental acquisition costs) is limited to 10% above and 20% below the arithmetic mean of the share price in the closing auction of Xetra trading (or an equivalent successor system) on the Frankfurt Stock Exchange during the last three stock market trading days prior to the commitment transaction (Verpflichtungsgeschäft). HOCHTIEF Aktiengesellschaft The Executive Board
14.05.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | HOCHTIEF Aktiengesellschaft |
Alfredstraße 236 | |
45133 Essen | |
Germany | |
Internet: | www.hochtief.de |
End of News | DGAP News Service |
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