Other Capital Market Information | 7 November 2016 07:59
adidas AG / Share Buyback
07.11.2016 07:59
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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Herzogenaurach, November 7, 2016
Announcement Pursuant to Article 2 Sec. 1 of the Commission Delegated
Regulation (EU) No 2016/1052 supplementing Regulation (EU) No 596/2014
(MAR)
Purchase of Treasury Shares
The share buyback programme announced by adidas AG by means of an ad hoc
notification on October 1, 2014, which was conducted in a first tranche in
the period from November 7, 2014 up to and including December 12, 2014 and
in a second tranche in the period from March 6, 2015 up to and including
June 15, 2015 will be resumed from November 8, 2016 onwards on the basis of
the authorisation granted by the Annual General Meeting on May 12, 2016. In
a third 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 3,000,000 shares, shall be
repurchased exclusively via the stock exchange over a period of time not to
extend beyond January 31, 2017. The repurchased shares may optionally 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. Furthermore, the repurchased
shares may be used for other admissible purposes under the authorisation
granted by the Annual General Meeting on May 12, 2016. 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 3 of the Commission Delegated Regulation (EU) No 2016/1052 of March
8, 2016 (EU Reg.). It is stipulated in the EU Reg. that, inter alia, 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 on
the trading venue on which the purchase is carried out, whichever value is
the highest. In addition, pursuant to the EU Reg., not more than 25% of the
average daily volume of shares on the trading venue 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
2 sec. 3 EU 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, Germany, November 7, 2016
adidas AG
The Executive Board
07.11.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: adidas AG
Adi-Dassler-Straße 1
91074 Herzogenaurach
Germany
Internet: www.adidas-group.com
End of Announcement DGAP News-Service
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