HORNBACH Baumarkt AG / Key word(s): Share Buyback
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transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Board of Management resolves share buyback for employee share program
Bornheim, July 11, 2016. The Board of Management of HORNBACH Baumarkt AG,
based in Bornheim/Pfalz, ISIN DE0006084403, today resolved to acquire up to
50,000 treasury stock shares pursuant to § 71 (1) No. 2 of the German
Stock Corporation Act (AktG). The shares are to be acquired in preparation
annual issue of shares to employees scheduled to take place at the end of
2016. The buyback thus meets the objective of an employee share scheme as
defined in Article 5 (2) c) of Regulation (EU) No. 596/2014 of the European
Parliament and Council dated April 14, 2014.
The buyback of shares on the basis of this management board resolution will
be executed in accordance with the safe harbor regulations set out in
Article 5 of Regulation (EU) No. 596/2014 of the European Parliament and
Council dated April 14, 2014 and with the delegated Regulation (EU)
2016/1052 of the Commission dated March 8, 2016.
The buyback of shares will begin on August 1, 2016 and will run for a
limited period expiring at the end of the 2016/2017 financial year (balance
sheet date: February 28, 2017). The purchase price to be paid by the
company per share (excluding acquisition costs) may not exceed or fall
short of the stock market price by more than 10%. The stock market price
referred to corresponds to the average of the closing prices in Xetra
trading at the Frankfurt Stock Exchange on the five trading days
immediately preceding the respective acquisition. Moreover, the shares will
not be acquired at a price in excess of that determined pursuant to Article
3 (2) of the delegated Regulation (EU) 2016/1052 of the Commission dated
March 8, 2016. Buyback orders will only be submitted during continuous
trading and not within auction phases. Orders in place at the beginning of
an auction phase will not be amended during such phase. The maximum total
purchase price for which shares are to be acquired by HORNBACH Baumarkt AG
amounts to Euro 1,700,000.00.
The buyback of shares will be executed in such a way as to protect the
interests of the market and will be managed by a bank that determines the
timing of the treasury stock purchases at its own discretion and without
influence from the company.
In respect of the volume of shares to be acquired per day, it will not be
permitted to acquire more than 25% of the respective average daily trading
volume in Xetra trading at the Frankfurt Stock Exchange. The average daily
trading volume of the respective trading segment is derived by reference to
average daily trading volumes on the 20 trading days preceding the
The transactions thereby executed will be published via a pan-European
information dissemination system and by electronic communication to media
which the general public can reasonably rely on to ensure effective
dissemination of the information. Furthermore, the relevant notifications
will be published on the internet in the Investor Relations/Shares/Share
Buyback section of the company’s homepage at www.hornbach-holding.com and
also forwarded to the Companies Register for storage.
11.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Company: HORNBACH Baumarkt AG
76878 Bornheim bei Landau/Pfalz
Phone: +49 (0)6348 / 60 00
Fax: +49 (0)6348 / 60 40 00
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
End of Announcement DGAP News-Service