LANXESS decides on share buy-back program with a total volume of up to EUR 500 million

Cologne
The Management Board of LANXESS decided on a share buy-back program. Based on the authorization granted by the Shareholders’ Meeting on 23rd of May 2019 own shares in a volume of up to EUR 500 million (excluding incidental costs) will be acquired via the stock exchange in the next 24 months, but in accordance with the authorization no more than 10% of the share capital of the Company. 

On the basis of the current share price (EUR 40.30 per share; status: 9th of March 2020), the Company could buy back 8,744,785 own shares, respectively 10% of the share capital of the Company, for an aggregate consideration of EUR 352,4 million. The acquired shares shall be redeemed.

The share buy-back will be split equally into two tranches of EUR 250 million. The share buy-back of the first tranche will start on 12th of March 2020 at the earliest and shall be completed within the next 12 months at the latest. On the time period for the second tranche of the buy-back program no decision has been taken yet.  
 

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