KWS SAAT SE: Release of a capital market information
KWS SAAT SE / share buyback program / Executive Board decides to extend the
current share buyback program
Disclosure pursuant to Article 5 (1) point (a) of the Regulation (EU) No
596/2014 and Article 2 (1) of the Commission Delegated Regulation (EU) No
Einbeck, February 7, 2019. On October 16, 2018, the Executive Board of KWS
SAAT SE (ISIN DE0007074007) adopted a resolution to acquire shares in its
own company for its Employee Stock Program in accordance with Section 71
(1) No. 2 of the German Stock Corporation Law (AktG). The sole purpose of
acquiring the shares is to fulfill obligations from the Employee Stock
Program within the meaning of Article 5 (2) point (c) of Regulation (EU)
596/2014. The shares were to be bought back between January 9, 2019, and
February 8, 2019; the subscription period for employees ended on January
The Executive Board of KWS SAAT SE decided on February 6, 2019, to extend
the final deadline for buying back shares (February 8, 2019) by three weeks
to no later than March 1, 2019, so that all the shares subscribed to by
employees can be purchased.
Apart from that, the stipulations of the Employee Stock Program, as
originally adopted by the Executive Board on October 16, 2018, continue to
apply. The share buyback program will still be conducted by a bank, which
will decide on the precise time at which shares in the company are acquired
within the above-stated period, independently and uninfluenced by the
company. The shares will exclusively be bought back on the stock market in
such a way that their price is not impaired. The maximum purchase price
paid per share (excluding incidental transaction charges) may not exceed
the stock market price of a KWS SAAT SE share on the trading day, as
determined during the opening auction in Xetra trading at Frankfurt Stock
Exchange, by more than 5% nor fall below such market price by more than 5%.
In addition, in accordance with the conditions for trading under Article 3
of Commission Delegated Regulation (EU) No 2016/1052, the purchase price
shall not be higher than the higher of the price of the last independent
trade conducted on the stock market where the purchase is carried out and
the highest last independent purchase bid on the stock market where the
purchase is carried out, including when the shares are traded on different
trading venues. In accordance with Commission Delegated Regulation (EU) No
2016/1052, no more than 25% of the average daily volume of the shares on
the stock exchange on which the purchase is carried out shall be purchased
on any trading day; the average daily volume shall be based on the average
daily volume traded on 20 trading days preceding the specific date of
purchase. In addition, the share buyback can be suspended and resumed at
any time in compliance with the applicable statutory requirements.
KWS SAAT SE will continue to announce the progress of the share buyback
program to an appropriate extent on a weekly basis. The company currently
holds 6,322 treasury shares or approximately 0.1% of the capital stock.
Einbeck, February 7, 2019.
KWS SAAT SE
The Executive Board
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