DGAP-Adhoc: LANXESS Aktiengesellschaft: LANXESS decides on share buy-back program with a total volume of up to EUR 500 million
DGAP-Ad-hoc: LANXESS Aktiengesellschaft / Key word(s): Share Buyback Ad hoc according to Art. 17 Para. 1 MAR LANXESS decides on share buy-back program with a total volume of up to EUR 500 million The Management Board of LANXESS decided on a share buy-back program. Based on the authorization granted by the Shareholders' Meeting on 23rd of May 2019 own shares in a volume of up to EUR 500 million (excluding incidental costs) will be acquired via the stock exchange in the next 24 months, but in accordance with the authorization no more than 10% of the share capital of the Company. On the basis of the current share price (EUR 40.30 per share; status: 9th of March 2020), the Company could buy back 8,744,785 own shares, respectively 10% of the share capital of the Company, for an aggregate consideration of EUR 352,4 million. The acquired shares shall be redeemed. The share buy-back will be split equally into two tranches of EUR 250 million. The share buy-back of the first tranche will start on 12th of March 2020 at the earliest and shall be completed within the next 12 months at the latest. On the time period for the second tranche of the buy-back program no decision has been taken yet. Cologne, 10 March 2020 Forward-Looking Statements Contact: Andre Simon LANXESS AG Head of Investor Relations Kennedyplatz 1 50569 Köln, Deutschland Telefon: +49 221 8885-3494 Fax: +49 221 8885-4944 E-Mail: [email protected]
10-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | LANXESS Aktiengesellschaft |
Kennedyplatz 1 | |
50569 Cologne | |
Germany | |
Phone: | +49 (0)221 8885-3494 |
Fax: | +49 (0)221 8885-4944 |
E-mail: | [email protected] |
Internet: | www.lanxess.com |
ISIN: | DE0005470405 |
WKN: | 547040 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 993447 |
End of Announcement | DGAP News Service |
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993447 10-March-2020 CET/CEST
Lanxess AG Stock
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