Other Capital Market Information | 30 September 2015 10:14
Deutsche Telekom AG / Bekanntgabe über Aktienrückkauf
30.09.2015 10:14
Dissemination of a Post-admission Duties announcement, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Telekom AG, Bonn
ISIN no. DE0005557508
Securities identification code 555 750
Announcement of share buyback
The Board of Management of Deutsche Telekom AG approves share buyback for
one or several of the purposes permitted under the authorization granted
under item 7 on the agenda of the shareholders' meeting on May 24, 2012.
On September 29, 2015, the Board of Management of Deutsche Telekom AG,
Bonn, ISIN DE0005557508, resolved to purchase 950,000 shares in Deutsche
Telekom AG on the stock exchange corresponding to around 0.021 percent of
the capital stock of Deutsche Telekom AG at the conditions listed below and
for the following purposes. Based on the closing price of the share in
Xetra trading on September 28, 2015, of EUR 15.84, the cost of 950,000
shares would be EUR 15,048,000 (excluding transaction costs).
Deutsche Telekom AG is thus exercising the authorization granted by the
shareholders' meeting on May 24, 2012, under item 7 of the agenda to buy
back Deutsche Telekom shares until May 23, 2017.
In accordance with the Board of Management resolution on September 29,
2015, the share buyback will begin on September 30, 2015, (earliest
possible acquisition date) and be completed on October 30, 2015 (latest
possible acquisition date).
The shares are to be used for one or several of the purposes permitted by
the authorization granted by the shareholders' meeting on May 24, 2012,
under item 7 on the agenda. The shares are also to be used for purposes for
which an exclusion of subscription rights is intended, but can also be
withdrawn or sold through the stock market or by way of an offer to all
shareholders. The shares are to be available in particular to fulfill the
rights of Board of Management members to receive shares in Deutsche Telekom
AG, which the Supervisory Board has granted to these members as part of the
arrangements governing Board of Management remuneration, on the basis of a
decision by the Supervisory Board to this effect.
The share buyback will be carried out merely on the basis of the safe
harbor provisions of §14 (2) and §20 a (3) of the German Securities Trading
Act (Wertpapierhandelsgesetz - WpHG) in conjunction with Commission
Regulation (EC) No. 2273/2003 of December 22, 2003, implementing Directive
2003/6/EC of the European Parliament and of the European Council as regards
exemptions for buyback programs and stabilization of financial instruments
(hereinafter referred to as the 'EC Regulation'), as the intended use of
the shares does not fulfill these provisions.
The share buyback will be managed by a financial institution that will
decide on the timing of the purchase of treasury shares at its own
discretion, independently of, and without influence by, Deutsche Telekom
AG. Deutsche Telekom's right to terminate the financial institution's
mandate ahead of time and to block further share buybacks in accordance
with the applicable legal provisions remains unaffected.
The financial institution has pledged to Deutsche Telekom AG in particular
that when purchasing shares of Deutsche Telekom AG it will comply with the
specifications of the authorization granted by the shareholders' meeting on
May 24, 2012, as well as the conditions for trading set out in Article 5
(1) and (2) of the EC Regulation.
The shares will be exclusively repurchased on the stock exchange via the
Xetra trading platform of Deutsche Börse AG (Frankfurt Stock Exchange). In
accordance with the authorization granted by the shareholders' meeting on
May 24, 2012, the consideration (excluding transaction costs) for the
buyback of Deutsche Telekom shares on the stock exchange may not exceed by
5 percent or fall more than 5 percent below the market price of the share
determined by the opening auction of Deutsche Börse AG on the respective
trading day in Xetra trading. The maximum purchase price to be paid thus
amounts to 105 percent of the above-mentioned market price.
Furthermore, the shares will not be purchased at a price higher than the
higher of the price of the last independent trade and the last highest
current independent bid on the trading venues where the purchase is carried
out. The higher of these two values shall apply.
Deutsche Telekom AG will not purchase more than 25 percent of the average
daily volume of the shares in any one day on the stock exchange on which
the purchase is carried out. The average daily volume figure is based on
the average daily volume traded in the 20 trading days preceding the date
of purchase.
Deutsche Telekom AG will provide regular updates on all transactions via
the Deutsche Telekom AG website (http://www.telekom.com) and make published
information available free of charge at company headquarters (Deutsche
Telekom AG, Investor Relations, Friedrich-Ebert-Allee 140, 53113 Bonn,
Germany. Phone: +49 (0)228 181-88880 E-mail: investor.relations@telekom.de)
30.09.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Telekom AG
Friedrich Ebert Allee 140
53113 Bonn
Germany
Internet: www.telekom.com
End of Announcement DGAP News-Service
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