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DGAP-Adhoc: Covestro AG: Covestro resolves on share buyback program with volume of approx. EUR 500 million

eqs_en 
0 0 28.02.22
DGAP-Adhoc: Covestro AG: Covestro resolves on share buyback program with volume of approx. EUR 500 million
 

DGAP-Ad-hoc: Covestro AG / Key word(s): Share Buyback
Covestro AG: Covestro resolves on share buyback program with volume of approx. EUR 500 million

28-Feb-2022 / 19:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The Board of Management of Covestro AG - in light of the successful business development - today resolved on a share buyback program. The program amounts to a total volume of approximately EUR 500 million (without ancillary transaction costs) and shall be concluded within two years. Generally, the repurchased shares are subsequently to be cancelled and the share capital is to be reduced accordingly.

The share buyback program is based on the authorization by the Annual General Meeting of Covestro AG on April 12, 2019, authorizing the Board of Management to purchase up to 10 percent of the company's share capital until April 11, 2024.

The purchase shall be executed via stock exchange and be conducted in compliance with the safe harbor provisions of Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16, 2014 (MAR) in conjunction with the provisions of the Commission Delegated Regulation (EU) 2016/1052 of March 8, 2016.

28-Feb-2022 CET/CEST 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
Phone: +49 (0) 214 60095098
Fax: +49 (0) 214 60097002
E-mail: [email protected]
Internet: www.covestro.com
ISIN: DE0006062144
WKN: 606214
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1290455

 
End of Announcement DGAP News Service

1290455  28-Feb-2022 CET/CEST

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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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