DGAP-CMS: Drägerwerk AG & Co. KGaA: Release of a capital market information

2020. október 01., csütörtök, 09:30







DGAP Post-admission Duties announcement: Drägerwerk AG & Co. KGaA


/ Notification pursuant to Art. 5 (1) of the Regulation (EU) No 596/2014 and Art. 2 (1) of the Delegated Regulation (EU) 2016/1052






Drägerwerk AG & Co. KGaA: Release of a capital market information








01.10.2020 / 09:30



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.




Notification pursuant to Art. 5 (1) of the Regulation (EU) No 596/2014 and Art. 2 (1) of the Delegated Regulation (EU) 2016/1052


Drägerwerk AG & Co. KGaA ("Dräger") will engage in a share buyback. In the period from 2 November 2020 to 7 December 2020 Dräger intends to buy back approximately 90.000 of its own preferred shares.



The share buyback serves the implementation of the employee participation program resolved on 21 September 2020 by the executive board of the Drägerwerk Verwaltungs AG as well as a one-off share gift of preferred shares to the German employees.



With a similar employee participation in the employee participation program as in 2019, Dräger is likely to acquire fewer than 50,000 preferred shares on the capital market for the employee participation program. This program will be extended in 2020 by a one-time share gift program in which all eligible employees will receive complimentary shares. Up to 38,500 of own preferred shares will be repurchased for this gift program.



Only in the theoretically possible event that all authorized employees participate fully in the employee participation program and all eligible employees request the complimentary shares as part of the gift, a total of up to 670,500 units of own preferred shares would be repurchased.



The share buyback principally complies with rules and regulations set forth in Sec. 71 (1) Sentence 1 No.2 AktG (Aktiengesetz - German Stock Corporation Act). The buyback of preferred shares held by persons not employed by the Company or any associated company, neither at the present time nor in the past, will take place in accordance with the authorization issued by the Company"s annual shareholders" meeting dated 27 April 2016, which permits the buyback of up to 10 percent of capital stock held in the form of own shares.



A bank will be tasked with the buyback. The bank will make its decisions concerning the time of purchase of the preferred shares independently of Dräger and free of its influence. The right of Dräger to terminate its contract with the bank early and assign the task to a different bank remains unaffected.



In both cases, the buyback complies with the so-called safe-harbor rules set forth in Art. 5 of the Regulation (EU) No 596/2014 in connection with the Delegated Regulation (EU) 2016/1052.



The buyback will be made on the stock exchange. The purchase price will comply with the requirements set forth in the safe-harbor rules. In addition, the purchase price per preferred share (excluding acquisition charges) of those preferred shares to be acquired on the basis of the authorization issued by the annual shareholders" meeting may not exceed or fall below the price of the preferred shares in the opening auction in XETRA trading on the Frankfurt Stock Exchange on the trading day in question by more than 10 percent.



The share buyback may be suspended and resumed at any time in accordance with the relevant legal guidelines.



The transactions will be announced by the end of the seventh trading day after their conclusion at the latest in a method in accordance with the requirements set forth in Art. 2 (2) of the Delegated Regulation (EU) 2016/1052.



Dräger will report on the course of the buyback program in accordance with the legal provisions on the Company"s website (www.draeger.de) in the Investor Relations section.



Lübeck, Germany, October 1, 2020



Executive Board

Drägerwerk Verwaltungs AG, acting as the general partner of

Drägerwerk AG & Co. KGaA



Moislinger Allee 53-55

23558 Lübeck, Germany

www.draeger.com



Disclaimer



This release contains statements on the future development of Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date and have been prepared to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors. They entail risks and uncertainties beyond the Company"s control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, Dräger does not assume any obligation to update the forward-looking statements contained in this report. You will find all important financial dates on our Company website at www.draeger.com under Investors/Financial Calendar.
















01.10.2020 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de













Language: English
Company: Drägerwerk AG & Co. KGaA

Moislinger Allee 53-55

23542 Lübeck

Germany
Internet: www.draeger.com





 
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1138161  01.10.2020 



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