09.07.2018
HORNBACH Baumarkt AG DE0006084403
DGAP-Adhoc: HORNBACH Baumarkt AG: Board of Management resolves share buyback for employee share program
DGAP-Ad-hoc: HORNBACH Baumarkt AG / Key word(s): Share Buyback
HORNBACH Baumarkt AG: Board of Management resolves share buyback for
employee share program
09-Jul-2018 / 12:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Board of Management resolves share buyback for employee share program
Bornheim, July 9, 2018. The Board of Management of HORNBACH Baumarkt AG,
based in Bornheim/Pfalz, ISIN DE0006084403, today resolved to acquire up to
55,000 treasury stock shares pursuant to § 71 (1) No. 2 of the German Stock
Corporation Act (AktG). The shares are to be acquired in preparation for the
annual issue of shares to employees scheduled to take place at the end of
2018. The buyback thus meets the objective of an employee share scheme as
defined in Article 5 (2) c) of Regulation (EU) No. 596/2014 of the European
Parliament and Council dated April 14, 2014.
The buyback of shares on the basis of this management board resolution will
be executed in accordance with the safe harbor regulations set out in
Article 5 of Regulation (EU) No. 596/2014 of the European Parliament and
Council dated April 14, 2014 and with the delegated Regulation (EU)
2016/1052 of the Commission dated March 8, 2016.
The buyback of shares will begin on August 1, 2018 and will run for a
limited period expiring at the end of the 2018/2019 financial year (balance
sheet date: February 28, 2019). The purchase price to be paid by the company
per share (excluding acquisition costs) may not exceed or fall short of the
stock market price by more than 10%. The stock market price referred to
corresponds to the average of the closing prices in Xetra trading at the
Frankfurt Stock Exchange on the five trading days immediately preceding the
respective acquisition. Moreover, the shares will not be acquired at a price
in excess of that determined pursuant to Article 3 (2) of the delegated
Regulation (EU) 2016/1052 of the Commission dated March 8, 2016. Buyback
orders will only be submitted during continuous trading and not within
auction phases. Orders in place at the beginning of an auction phase will
not be amended during such phase. The maximum total purchase price for which
shares are to be acquired by HORNBACH Baumarkt AG amounts to Euro
1,700,000.00.
The buyback of shares will be executed in such a way as to protect the
interests of the market and will be managed by a bank that determines the
timing of the treasury stock purchases at its own discretion and without
influence from the company.
In respect of the volume of shares to be acquired per day, it will not be
permitted to acquire more than 25% of the respective average daily trading
volume in Xetra trading at the Frankfurt Stock Exchange. The average daily
trading volume of the respective trading segment is derived by reference to
average daily trading volumes on the 20 trading days preceding the
respective acquisition.
The transactions thereby executed will be published via a pan-European
information dissemination system and by electronic communication to media
which the general public can reasonably rely on to ensure effective
dissemination of the information. Furthermore, the relevant notifications
will be published on the internet in the Investor Relations > Shares > Share
Buyback section of the company's homepage at www.hornbach-holding.com and
also forwarded to the Companies Register for storage.
Contact:
Axel Mueller
Group Communications and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Tel. +49 (0) 6348 602444
[email protected]
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Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: HORNBACH Baumarkt AG
Hornbachstraße
76878 Bornheim bei Landau/Pfalz
Germany
Phone: +49 (0)6348 / 60 00
Fax: +49 (0)6348 / 60 40 00
E-mail: [email protected]
Internet: www.hornbach.de
ISIN: DE0006084403
WKN: 608440
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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702653 09-Jul-2018 CET/CEST
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