Corporate | 6 November 2014 09:40
DGAP-News: adidas AG / Key word(s): Share Buyback
06.11.2014 / 09:40
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The share buyback programme announced by adidas AG by means of an ad hoc
notification on October 1, 2014, commences on November 7, 2014. In a first
tranche, treasury shares of the company with an aggregate acquisition cost
of up to EUR 300 million (excluding incidental purchasing costs), however,
in total no more than 6,000,000 shares, shall be repurchased exclusively
via the stock exchange over a period of time not to extend beyond January
30, 2015. The repurchased shares will be cancelled, thus reducing the
nominal capital, or may be used to meet obligations arising from the
potential conversion of the Company's EUR 500 million convertible bond due
on June 14, 2019. adidas AG is thereby utilising the authorisation granted
by the Annual General Meeting on May 8, 2014, to repurchase treasury shares
pursuant to § 71 sec. 1 no. 8 German Stock Corporation Act (Aktiengesetz -
AktG). In accordance with this authorisation, shares in an amount of up to
10% of the company's nominal capital may be repurchased inter alia through
the stock exchange until May 7, 2019.
A bank shall be assigned to carry out the share buyback, making its
decisions on the share repurchase date independently of and uninfluenced by
the company. adidas AG's right to early termination of the bank mandate
and/or to transfer the mandate to another bank shall remain unaffected.
The share buyback shall be carried out exclusively via the stock exchange
in electronic trading through the Frankfurt Stock Exchange (Xetra).
The price per repurchased share (excluding incidental purchasing costs) may
not be more than 10% higher or lower than the average stock exchange price
for the adidas AG share as established in the opening auction of the
electronic trading system on the Frankfurt Stock Exchange on the day of the
repurchase obligation.
The bank has committed itself to observe all trading restrictions of
Article 5 of the Commission Regulation (EC) No 2273/2003 of December 22,
2003 (EC Reg.). In accordance with the EC Reg., no purchase price may be
paid which exceeds the price of the last independent trade or the highest
independent bid placed at the time of the purchase at the stock exchange at
which the purchase is carried out, whichever value is the highest. Pursuant
to the EC Reg., not more than 25% of the average daily volume of shares on
the stock exchange on which the purchase is carried out may be acquired.
The average volume of shares is based on the average daily trade volume of
the 20 trading days preceding the specific date of purchase.
The share buyback programme may be suspended and resumed at any time if
this is in compliance with all statutory provisions.
The transactions will be announced pursuant to the requirements of Article
4 sec. 4 EC Reg. no later than on the seventh trading day after their
execution.
In addition, adidas AG will report regularly on the progress of the share
buyback on www.adidas-Group.com.
adidas AG reserves the right to continue the share buyback programme in the
future with the parameters published in the ad hoc notification of October
1, 2014.
Herzogenaurach, November 6, 2014
adidas AG
The Executive Board
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06.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: adidas AG
Adi-Dassler-Straße 1
91074 Herzogenaurach
Germany
Phone: +49 9132 84 0
Fax: +49 9132 84 2241
Internet: www.adidas-group.com
ISIN: DE000A1EWWW0, US00687A1079, US00687P1049
WKN: A1EWWW, A0MNCC , 909676
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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