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Covestro AG
Transaction in Own Shares • Oct 24, 2017
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Transaction in Own Shares
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News Details
Ad-hoc | 24 October 2017 06:58
Covestro AG: Covestro decides on EUR 1.5 billion share buy-back program
Covestro AG / Key word(s): Share Buyback
Covestro AG: Covestro decides on EUR 1.5 billion share buy-back program
24-Oct-2017 / 06:58 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The Covestro Board of Management has decided to buy back own shares worth a maximum notional amount of EUR 1.5 billion (or up to 10% of the outstanding capital stock, depending on which value is reached first. This decision is based on the authorization of the Annual General Meeting of September 1, 2015.
The share buy-back will be executed through XETRA trading (FSE) in line with the requirements for share buy-back programs set forth by the Market Abuse Regulation and the associated EU Commission Implementing Regulation.
The buy-back program is planned to commence during the fourth quarter 2017 and has an initial duration until mid of 2019.
Contacts:
Ronald Köhler
Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: [email protected]
Ilia Kürten
Phone: +49 214 6009 7429
E-mail: [email protected]
Cedric Schupp
Phone: +49 214 6009 2336
E-mail: [email protected]
24-Oct-2017 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: | MDAX |
| 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 |