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EQS-Ad-hoc: paragon GmbH & Co. KGaA / Key word(s): Bond paragon GmbH & Co. KGaA resolves bond buyback programme for up to nominal EUR 20,211,000.00 of its 6.75% bond 2017/2027
Delbrück | October 26, 2023 - The management of paragon GmbH & Co. KGaA (the "Company") (German Securities Code (WKN): 555869; ISIN: DE0005558696), has resolved today, with regard to its obligations under the terms and conditions of the Bonds for the partial redemption of the Bonds, to launch a bond redemption programme (the "Redemption Programme") in relation to its EUR 50. 000,000.00 6.76% Notes 2017/2027 (ISIN: DE000A2GSB86; WKN: A2GSB8) (the "Notes") to repurchase Notes in an aggregate principal amount of up to EUR 20,211,000.00. The repurchase under the Repurchase Programme will be effected via the regional stock exchanges in Frankfurt a.M., Stuttgart and via Tradegate Exchange by accepting purchase offers submitted on the respective stock exchanges. The Issuer is not obliged, but only entitled, to accept purchase offers. The repurchase programme will start on 6 November 2023 and will run until 5 July 2025 at the latest. The Issuer reserves the right to shorten or extend the period; it will inform about this in due course. The repurchase will be carried out by an independent securities service provider. The appointed securities service provider is obliged to comply with the safe harbour provisions of Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 in conjunction with Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, as applicable to Notes, with respect to the purchase price and purchase volume. The service provider entrusted with the settlement shall not acquire more than 25% of the average daily turnover (20-day average) in bearer bonds on the stock exchange on which the acquisition takes place. The service provider commissioned with the implementation of the repurchase programme shall make its decisions on the timing of the acquisition of Bearer Notes independently of and without influence by the Issuer. The Company will report on the progress of the buy-back programme on an ongoing basis on its website (https://paragon.ag/) under the heading "Investors/Bonds".
About paragon GmbH & Co. KGaA Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon's Power business unit supplies battery management systems and traction batteries. In addition to its headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH & Co. KGaA and its subsidiaries have sites in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg) and Limbach (Saarland), as well as in Kunshan (China), Bengaluru (India) and Oroslavje (Croatia). For more information on paragon, visit www.paragon.ag.
Capital Market & Press Contact paragon GmbH & Co. KGaA Dr. Martin Esser Bösendamm 11 33129 Delbrück, Germany Phone: +49 (0) 52 50 - 97 62-200 Fax: +49 (0) 52 50 - 97 62-102 Email: investor@paragon.ag
End of Inside Information
26-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | paragon GmbH & Co. KGaA |
| Bösendamm 11 | |
| 33129 Delbrück | |
| Germany | |
| Phone: | +49 (0)5250 9762 - 0 |
| Fax: | +49 (0)5250 9762 - 102 |
| E-mail: | investor@paragon.ag |
| Internet: | www.paragon.ag |
| ISIN: | DE0005558696, DE000A2GSB86, |
| WKN: | 555869, A2GSB8, |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1758159 |
| End of Announcement | EQS News Service |
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1758159 26-Oct-2023 CET/CEST
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