PRESS RELEASE
from Covestro AG (isin : DE0006062144)
EQS-Adhoc: Covestro AG: Share buyback program terminated ahead of schedule
EQS-Ad-hoc: Covestro AG / Key word(s): Share Buyback
Covestro AG: Share buyback program terminated ahead of schedule
26-Oct-2023 / 19:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The Board of Management of Covestro AG decided today to terminate the current share buyback program ahead of schedule due to the current overall situation and the limited time remaining until the end of the program.
On February 28, 2022, Covestro AG had disclosed the start of the share buyback program pursuant to art. 5 para. 1 lit. a) of the Regulation (EU) no. 596/2014 and art. 2 para. 1 of the Delegated Regulation (EU) no. 2016/1052.
The share buyback program had been intended to reach a volume of up to Euro 500 million and to be concluded by February 28, 2024, at the latest. The volume of shares which within the framework of the share buyback program had been bought back in the period from March 21, 2022, until and including June 29, 2023, amounts to a number of 4,687,991 shares; this corresponds to 2.4 percent of the share capital. The average purchase price per share was Euro 42.50. The purchase of the shares was carried out by banks that had been commissioned by Covestro AG via the electronic trading platform of the Frankfurt Stock Exchange (Xetra).
Contact:
Ronald Köhler
Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com
Carsten Intveen
Phone: +49 214 6009 5861
E-mail: carsten.intveen@covestro.com
Marc Schütze
Phone: +49 214 6009 5281
E-mail: marc.schuetze@covestro.com
On February 28, 2022, Covestro AG had disclosed the start of the share buyback program pursuant to art. 5 para. 1 lit. a) of the Regulation (EU) no. 596/2014 and art. 2 para. 1 of the Delegated Regulation (EU) no. 2016/1052.
The share buyback program had been intended to reach a volume of up to Euro 500 million and to be concluded by February 28, 2024, at the latest. The volume of shares which within the framework of the share buyback program had been bought back in the period from March 21, 2022, until and including June 29, 2023, amounts to a number of 4,687,991 shares; this corresponds to 2.4 percent of the share capital. The average purchase price per share was Euro 42.50. The purchase of the shares was carried out by banks that had been commissioned by Covestro AG via the electronic trading platform of the Frankfurt Stock Exchange (Xetra).
Contact:
Ronald Köhler
Head of Investor Relations
Phone: +49 214 6009 5098
E-mail: ronald.koehler@covestro.com
Carsten Intveen
Phone: +49 214 6009 5861
E-mail: carsten.intveen@covestro.com
Marc Schütze
Phone: +49 214 6009 5281
E-mail: marc.schuetze@covestro.com
End of Inside Information
26-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Covestro AG |
| Kaiser-Wilhelm-Allee 60 | |
| 51373 Leverkusen | |
| Germany | |
| Phone: | +49 (0) 214 60095098 |
| Fax: | +49 (0) 214 60097002 |
| E-mail: | ronald.koehler@covestro.com |
| Internet: | www.covestro.com |
| ISIN: | DE0006062144 |
| WKN: | 606214 |
| Indices: | DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1758689 |
| End of Announcement | EQS News Service |
1758689 26-Oct-2023 CET/CEST