Final announcement on the first tranche of the share buyback announced on 11 March 2020
LANXESS Aktiengesellschaft
Cologne
- ISIN DE0005470405 -
- German Securities Identification Number (WKN) 547040 -
Publication pursuant to Article 5 of Regulation (EU) No 596/2014 and Article 2 of the Commission Delegated Regulation (EU) No 2016/1052
Cologne
- ISIN DE0005470405 -
- German Securities Identification Number (WKN) 547040 -
Publication pursuant to Article 5 of Regulation (EU) No 596/2014 and Article 2 of the Commission Delegated Regulation (EU) No 2016/1052
CologneMarch 11, 2021
The first tranche of the share buyback announced on 11 March 2020 in accordance with Art. 2 Para. 1 of the Delegated Regulation (EU) 2016/1052 ("Buyback Regulation") ended formally on 10 March 2021. The share buyback program, which expires on 12 March 2022, with a total volume of up to EUR 500 million (excluding incidental acquisition costs) divided into two tranches of EUR 250 million each, had been suspended indefinitely on 6 April 2020 due to the coronavirus crisis.
Under the first tranche of the share buyback program, a total of 1,101,549 shares (1.26% of the capital stock) were repurchased for a total of EUR 36.7 million in the period from 12 March to 6 April 2020. No further shares have been repurchased since the suspension on 6 April 2020. The shares were repurchased by a bank commissioned by LANXESS AG exclusively via Xetra trading on the Frankfurt Stock Exchange.
Against the background of the current strategic realignment of LANXESS AG, the company's liquidity is to be preserved at present and the share buyback program, the second tranche of which is still outstanding, is to remain suspended until further notice. Since the EUR 250 million originally earmarked for the first tranche was not fully used for the buyback, the second tranche is to be increased accordingly to EUR 463.3 million. A decision on whether to resume the share buyback program and a possible prolongation will be taken in due course depending on the further progress of the strategic realignment. The same applies to a decision on cancellation of the shares repurchased under the first tranche.
Information on the individual share buyback transactions is also published on the LANXESS AG website at www.lanxess.com under section "Investor Relations" in accordance with Art. 2 Para. 3 of the Buyback Regulation.
Cologne, 11 March 2021
The Board of Management
Under the first tranche of the share buyback program, a total of 1,101,549 shares (1.26% of the capital stock) were repurchased for a total of EUR 36.7 million in the period from 12 March to 6 April 2020. No further shares have been repurchased since the suspension on 6 April 2020. The shares were repurchased by a bank commissioned by LANXESS AG exclusively via Xetra trading on the Frankfurt Stock Exchange.
Against the background of the current strategic realignment of LANXESS AG, the company's liquidity is to be preserved at present and the share buyback program, the second tranche of which is still outstanding, is to remain suspended until further notice. Since the EUR 250 million originally earmarked for the first tranche was not fully used for the buyback, the second tranche is to be increased accordingly to EUR 463.3 million. A decision on whether to resume the share buyback program and a possible prolongation will be taken in due course depending on the further progress of the strategic realignment. The same applies to a decision on cancellation of the shares repurchased under the first tranche.
Information on the individual share buyback transactions is also published on the LANXESS AG website at www.lanxess.com under section "Investor Relations" in accordance with Art. 2 Para. 3 of the Buyback Regulation.
Cologne, 11 March 2021
The Board of Management
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.
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