DGAP-Adhoc: LANXESS Aktiengesellschaft: LANXESS decides on share buy-back program with a total volume of up to EUR 500 million

2020. március 10., kedd, 12:23





DGAP-Ad-hoc: LANXESS Aktiengesellschaft / Key word(s): Share Buyback


LANXESS Aktiengesellschaft: LANXESS decides on share buy-back program with a total volume of up to EUR 500 million


10-March-2020 / 12:23 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.




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

This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person"s officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.




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: andre.simon@lanxess.com








10-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de





























Language: English
Company: LANXESS Aktiengesellschaft

Kennedyplatz 1

50569 Cologne

Germany
Phone: +49 (0)221 8885-3494
Fax: +49 (0)221 8885-4944
E-mail: ir@lanxess.com
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




993447  10-March-2020 CET/CEST







fncls.ssp?fn=show_t_gif&application_id=993447&application_name=news&site_id=geo_holding_tug
Tilos a hír bármilyen adatbázisba történő mentése vagy annak továbbítása harmadik fél számára;kereskedelmi viszonylatban vagy kereskedelmi céllal csak a Deutsche Gesellschaft für Ad-hoc-Publizität mbh írásos engedélyével történhet.

Közzétételek - archívum