Aroundtown SA (IRSH)
Aroundtown SA: Release of a capital market information
02-Jun-2020 / 08:59 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
*Announcement pursuant to Art. 5(1) lit. a) of Regulation (EU) No 596/2014
and Art. 2(1) of Delegated Regulation (EU) 2016/1052 / Share Buy-Back
Programme 2020 *
Luxembourg, June 2, 2020
On June 2, 2020, the Board of Directors of Aroundtown SA (the '*Company*')
has resolved to carry out a share buy-back programme with a volume of up to
120,000,000 shares of the Company (ISIN: LU 1673108939) for a total purchase
price (excluding incidental costs) of up to EUR 500 million ('*Share
Buy-Back Programme 2020*'). The buy-back via the Xetra-trading system of the
Frankfurt stock exchange will begin on June 3, 2020 and will be conducted
for a period up to December 31, 2020. The repurchased shares of the Company
may be used in accordance with the authorization of the resolution of the
Ordinary General Meeting of Company on 6 May 2020.
The Share Buy-Back Programme 2020 will be carried out based on the
authorization of the Ordinary General Meeting of Company on 6 May 2020.
Under this authorization, the Company is authorized to acquire, either
directly or through a subsidiary of the Company, until 7 May 2025 treasury
shares in an amount of up to 20% of the aggregate nominal amount of the
issued share capital of the Company from time to time, at the date of
exercise of the authorisation. If the shares are repurchased over a stock
exchange, the purchase price per share (excluding any ancillary buy-back
costs and without any tax gross-up obligation) shall not exceed by more than
20%, and not fall short of by more than 50%, the opening auction price on
the trading day in Frankfurt am Main in the Xetra-trading system (or any
comparable successor system).
The purchase of treasury shares by way of the Share Buy-Back Programme 2020
will be carried out by the Company or a subsidiary of the Company by
instructing one or several credit institutions. To the extent it is intended
to repurchase shares of the Company during a closed period within the
meaning of Art. 19(11) of Regulation (EU) No 596/2014 of the European
Parliament and the Council of 16 April 2014 or during a period in which
Company has decided to delay the public disclosure of inside information in
accordance with Art. 17(4) of Regulation (EU) No 596/2014 of the European
Parliament and the Council of 16 April 2014, the Company will instruct a
credit institution to execute such repurchases. The credit institution will
make its trading decisions concerning the timing of the purchases of the
shares of the Company independently of and without any influence from the
Company within the meaning of Art. 4(2) lit. b) of Delegated Regulation (EU)
2016/1052 of the Commission of 8 March 2016. Insofar, the Company will not
exercise any influence over the credit institution's decisions. The Company
will carry out the purchases in accordance with Art. 5 of Regulation (EU) No
596/2014 of the European Parliament and the Council of 16 April 2014 as well
as the provisions of Delegated Regulation (EU) 2016/1052 of the Commission
of 8 March 2016 and on the basis of the aforementioned authorization by the
Ordinary General Meeting of the Company on 6 May 2020. To the extent the
Company will instruct one or several credit institutions to purchase the
shares of the Company, the Company will obligate these credit institutions
accordingly.
The shares of the Company will be purchased at market prices in accordance
with the conditions for trading pursuant to Art. 3 of Delegated Regulation
(EU) 2016/1052 of the Commission of 8 March 2016. In particular, the shares
of the Company will not be purchased at a price higher than the higher of
the price of the last independent trade and the highest current independent
purchase bid on the trading venue where the purchase is carried out. In
addition, Company will not purchase on any trading day more than 25% of the
average daily volume of the shares on the trading venue on which the
purchase is carried out. The average daily volume is calculated based on the
average daily volume traded during the 20 trading days preceding the date of
the respective purchase. To the extent required and legally permissible, the
Share Buy-Back Programme 2020 can be suspended and also resumed at any time.
Information on the transactions relating to the Share Buy-Back Programme
2020 will be adequately disclosed no later than by the end of the seventh
daily market session following the date of execution of such transactions in
a detailed form and in an aggregated form. In addition, the Company will
post on its website (www.aroundtown.de) under section 'Investor Relations'
the transactions disclosed and keep that information available for the
public for at least a 5-year period from the date of public disclosure.
ISIN: LU1673108939, XS1227093611, XS1336607715, XS1403685636,
XS1449707055, XS1532877757, XS1540071724, XS1586386739,
XS1649193403, XS1700429308, XS1715306012, XS1761721262,
XS1815135352, XS1753814141, CH0398677689, XS1857310814
Category Code: MSCH
TIDM: IRSH
LEI Code: 529900H4DWG3KWMBMQ39
Sequence No.: 67297
EQS News ID: 1060445
End of Announcement EQS News Service
(END) Dow Jones Newswires
June 02, 2020 02:59 ET (06:59 GMT)
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