LANXESS decides on share buy-back
CologneJanuary 10, 2019
The Board of Management of LANXESS AG decided to make use of the authorization granted by the Stockholders’ Meeting on 20 May 2016 and to acquire own shares of up to EUR 200 million (excluding incidental costs) via the stock exchange. On the basis of the current share price (status: 9 January 2019), this would amount to around 4.9 % of the share capital and would correspond to a number of approximately 4.5 million own shares.
The share buy-back will start on 14 January 2019 at the earliest and shall be completed at the latest on 31 December 2019. The acquired shares shall be redeemed.
LANXESS is a leading specialty chemicals company with sales of EUR 6.7 billion in 2023. The company currently has about 12,400 employees in 32 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives and consumer protection products. LANXESS has achieved leading positions in the Dow Jones Sustainability Index and the MSCI ESG and ISS ESG ratings, among others, for its commitment to sustainability.
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
