Form Notification of Share Repurchase
This announcement is pursuant to article 4 para 2 of Regulation (EC) No 2273/2003.
- WKN: 555200/ ISIN: DE0005552004
- Announcement pursuant to article 4 para 2 of Regulation (EC) No 2273/2003 (as amended or replaced from time to time)
Bonn - On March 1st, 2016 the Company's Management Board, has resolved to undertake a programme of share buybacks in a maximum amount of 60 million shares of Deutsche Post AG for a maximum total purchase price (excluding incidental expenses) of EUR 1bn (Buyback Programme). The purchased shares will either be cancelled, used to service long term management incentive programmes or to meet possible obligations under the convertible bond 2012 / 2019. The programme will be conducted via stock exchanges and start on April 1st , 2016 and is restricted to a duration of one year.
The Buyback Programme is based on the authorization of the Annual General Meeting of May 27th, 2014, valid until May 26th, 2019 to launch a share buyback programme for shares in the amount of up to 10% of the Company's share capital existing at the date the resolution on the share buy back is adopted. The purchase price (excluding incidental transaction costs) may not exceed the average share price prior to the effective date of the transaction by more than 10%, and may not be fixed more than 20% below it. The average share price is the non-volume-weighted average of the closing prices of the Company's shares in Xetra trading (or a comparable successor system) on the Frankfurt Stock Exchange on the last ten trading days. The effective date is the date of the purchase.
A first tranche with a maximum total purchase price (excluding incidental expenses) of EUR 100m, representing 0.34 % of the share capital of the Company, will be carried out in the period between April 1st, 2016 and maximum May 10th, 2016 on the basis of an irrevocable, non-discretionary arrangement by an independent financial service provider. The financial service provider is obliged to carry out the purchase in accordance with Art. 4 to 6 of the Regulation (EC) No 2273/2003 of the Commission of December 22, 2003 and Section 14 para. 2, Section 20a para. 3 of the German Securities Trading Act (WpHG), as amended or replaced from time to time, and in accordance with the authorization of the Annual General Meeting mentioned above.
Moreover, the Buyback Programme will be carried out as follows:
- The shares are purchased at market price in accordance with the price and volume conditions set out in Article 5 of the Regulation (EC) No 2273/2003 of the Commission of December 22, 2003. In particular, with respect to price, it will not buy shares at a higher price than the highest price of the last independent trade and the highest current independent bid in the trading venues where the purchase is made.
- With regard to trading volume, the Company will not purchase more than 25% of the average daily volume of its shares in the regulated market in which the purchase takes place; a limit that will apply to the entire buyback program. The daily average volume will be based on the average daily trading volume in the month before disclosure of this share buy back programme
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.