DGAP-Adhoc: CORESTATE Capital Holding S.A. resolves on share buy-back programme

CORESTATE Capital Holding S.A. resolves on share buy-back programme

• Buy-back programme for up to 500,000 shares in one or two tranches with a term up to and including 25 April 2019
• Tranche from 1 April 2019 to (and including) 12 April 2019 with a price ranging between EUR 33.36 and EUR 36.87
• Share buy-back to be effected over the stock exchange (XETRA-trading of the Frankfurt stock exchange)

Luxembourg, 1 April 2019 - The management board of CORESTATE Capital Holding S.A. with its registered office in Luxembourg, ISIN LU1296758029 (the "Company") today resolved, with the consent of the supervisory board, to make use of the authorisation to purchase treasury shares as resolved by the annual general meeting of the Company on 27 April 2018 and to purchase up to 500,000 treasury shares in the period from 1 April 2019 to (and including) 25 April 2019. In line with the authorisation granted by the general meeting, repurchased shares must be purchased at a price not exceeding or falling short of the market price per repurchased share as prevailing on the trading day immediately preceding the buy-back resolution of the management board by more than 5%. The maximum aggregate purchase price for which treasury shares are to be purchased by CORESTATE Capital Holding S.A. is up to EUR 18,505,000 (without ancillary acquisition costs). The share buy-back will be effected over the stock exchange (XETRA-trading of the Frankfurt stock exchange). The share buy-back programme will be divided into one or two tranches. For the tranche running from 1 April 2019 to (and including) 12 April 2019, the Company has fixed the buy-back price, based on the volume-weighted average price of the Company's share in XETRA trading on 29 March 2019, to be between EUR 33.36 and EUR 36.87 per share (correction of the ad hoc notification as of today, 8:14 am CET, according to which the price range was erroneously stated to be between EUR 33.49 and EUR 37.01 per share). In due course the management board will decide whether there will be a further tranche. In addition, the management board may decide whether there will be a further share buy-back programme based on a potential new authorisation to purchase treasury shares if and when resolved by the annual general meeting of the Company on 26 April 2019.
The share buy-back will be implemented by a credit institution. The credit institution for this purpose will make its decisions on the timing of the share purchase independently and without being influenced by the Company.
In addition, the bank has in particular undertaken to comply with the conditions for trading of article 3 of Delegated Regulation (EU) 2016/1052. Under these conditions, shares may, among other things, not be purchased at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid existing at the time of the purchase on the trading venue where the purchase is carried out. Moreover, the number of shares to be purchased on any day must not exceed 25% of the average daily volume of shares traded on the trading venue on which the purchase is carried out. The average volume of shares traded results from the average daily trading volume in the 20 trading days preceding the specific day of purchase. Buy-back orders will only be placed during continuous trading and not in the context of auction phases, and orders existing at the beginning of an auction phase will not be changed during this phase.
To the extent required and legally permitted, the share buy-back process may be suspended and recommenced at any time.
The treasury shares will be repurchased for legally permitted purposes. The Company intends in particular to use the repurchased treasury shares as acquisition currency for external growth.
Information on the transactions relating to the share buy-back programme will be reported in a manner meeting the requirements of article 2 of Delegated Regulation (EU) 2016/1052 no later than after the seventh daily market session following the execution of a transaction and published on the Company's website under www.ir.corestate-capital.com.
 
IR Contact      
Dr. Kai Gregor Klinger          
Head of Investor Relations and Capital Markets       
T: +49 69 3535630106 / M: +49 152 22755400       
[email protected]