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DGAP-Ad-hoc: Covestro AG / Key word(s): Share Buyback
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. |
| Language: | English |
| Company: | Covestro AG |
| Kaiser-Wilhelm-Allee 60 | |
| 51373 Leverkusen | |
| Germany | |
| Phone: | +49 (0) 214 60095098 |
| Fax: | +49 (0) 214 60097002 |
| E-mail: | ronald.koehler@covestro.com |
| 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 |
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1290455 28-Feb-2022 CET/CEST
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