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TUI AG (TUI)
Disclosure pursuant to Article 5(1) lit. c) Regulation (EU) No. 596/2014 and
Article 2(1) of Delegated Regulation (EU) No 2016/1052
10-Aug-2018 / 16:06 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Announcement of purchase of own shares in the course of the employee share
participation program 'oneShare'
Hanover, 10 August 2018
The Executive Board of TUI AG, having its corporate seat in Hanover and
Berlin, ISIN: DE000TUAG000, has resolved to buy back up to 59,196 own shares
(the 'Shares') pursuant to Section 71(1) No. 2 German Joint Stock
Corporation Act (Aktiengesetz - AktG). The Shares bought back shall be
transferred to employees of TUI Group participating in the employee share
participation program 'oneShare'.
The shares are supposed to be purchased in the period of time between 13
August 2018 until 16 August 2018 for a maximum total purchase price of EUR
1,100,000.00 (without transaction costs). The 59,196 shares to be purchased
would result in an estimate total purchase volume of EUR 1,015,211.40
without transaction costs) on the basis of share price of EUR 17.15 (XETRA
closing price of 9 August 2018).
The shares purchased shall be transferred to the employees participating in
'oneShare' immediately after the completion of the buyback. Consequently,
the buyback will have no impact in the number of shares attracting a
dividend. The share buyback thus serves to meet obligations arising from
share option program, under Art. 5(2) lit. c) Regulation (EU) No 596/2014 of
the European Parliament and the Council of 16 April 2014 ('MAR').
A credit institution was retained to carry out the buyback on behalf of TUI
AG. This institution shall make its decisions regarding the buyback
independently and uninfluenced by TUI AG. TUI AG's right to early
termination of the mandate shall remain unaffected. The buyback may be
suspended, discontinued and resumed at any time in compliance with the
applicable statutory provisions.
The buyback is to be carried out at the best price and in the best interest
of TUI AG. It shall be carried out exclusively via the stock exchange in
electronic trading through the Frankfurt Stock Exchange (Xetra).
The buyback shall be performed in compliance with the safe harbor rules of
Art. 5 MAR and Art. 2-4 of Delegated Regulation (EU) of the Commission No
2016/1052 of 8 March 2016. Accordingly, 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 stock exchange on which the
purchase is carried out, whichever value is the higher. Orders are not
placed during the auction phase and orders placed prior to the start of an
auction phase are not changed during this phase. The retained credit
institution shall, furthermore, acquire no more than 25% of the average
daily volume of shares on the stock exchange on which the purchase is
carried out. The average volume of shares is calculated based on the average
daily trade volume of the 20 trading days preceding the specific date of
purchase.
Because of TUI AG's listing at the London Stock Exchange the buyback is also
performed in accordance with the stock exchange rules of the United Kingdom.
As a consequence, shares shall only be purchased if the purchase price is
lower than the average market value of the shares for five business days
prior to the day on which the purchase shall be made (UK Listing Rule
12.4.1).
Transactions executed in the course of the buyback will be disclosed in a
manner consistent with the applicable legal requirements.
Furthermore, TUI AG will report on the buyback on a regular basis on its
website at
https://www.tuigroup.com/en-en/investors/share/employee-share-participatio
n-programme.
TUI AG
The Executive Board
ISIN: DE000TUAG000, DE000TUAG299
Category Code: POS
TIDM: TUI
LEI Code: 529900SL2WSPV293B552
OAM Categories: 2.4. Acquisition or disposal of the issuer's own shares
Sequence No.: 5856
EQS News ID: 713177
End of Announcement EQS News Service
(END) Dow Jones Newswires
August 10, 2018 10:06 ET (14:06 GMT)
