DGAP-Ad-hoc: EDAG Engineering Group AG: ATON informs EDAG Engineering Group AG about the status and the continuation of share purchases announced on 23 August 2016
EDAG Engineering Group AG / Key word(s): Miscellaneous
Arbon, 8 June 2017. On 23 August 2016, EDAG Engineering Group AG (EDAG or the Company), ISIN CH0303692047, had been informed by its shareholder, ATON, that it intended to purchase up to 1,000,000 shares of EDAG during the period ending on 29 May 2017.
ATON now has informed the Company that it has acquired 652,029 shares in total to date and within the scope of the announced share purchase programme and that it intends to make further on-exchange shares purchases during the period until 29 May 2018. According to ATON, up to 347,971 shares of the Company (representing approx. 1.4% of the share capital of EDAG Engineering Group AG) shall be bought during this period.
The purchase of the Company's shares is to be carried out in analogous application of the provisions of Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 14 April 2014 and in accordance with the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 regarding share buybacks of issuers (excluding the provisions regarding the disclosure of executed transactions) and in accordance with all other applicable law.
The share purchase is intended to be implemented in a manner limiting the impact on the share price via those trading venues on which the EDAG shares are admitted to trading or on which they are traded. The purchase price per share to be paid by ATON (excluding incidental acquisition cost) is not, according to ATON, to exceed or fall short of the stock market price by more than 5%. The relevant stock market price for such purpose is the average of the closing prices in Xetra trading on the Frankfurt Stock Exchange on the five trading days immediately preceding the respective acquisition. Moreover, the shares shall not be acquired at a price in excess of that determined pursuant to Article 3 (2) of the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016. Share purchase orders will only be placed during continuous trading and not during auction phases, and orders placed before the start of an auction phase shall not be modified during that phase.
The volume of the shares to be acquired on any given day is not to exceed 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 shall be based on the average daily trading volume during the 20 trading days preceding the respective date of purchase.
ATON intends to commission a bank to carry out the share purchases. Such bank will make its decisions in relation to the timing of the purchases of the shares independently of, and without influence from, ATON. ATON stated that it preserves the right to terminate the bank's appointment and to commission another bank. Subject to applicable law, the share purchases may be suspended and resumed at any time. There will be no disclosure of individual transactions executed. ATON's disclosure obligations pursuant to the German Securities Trading Act remain unaffected.
|Company:||EDAG Engineering Group AG|
|Phone:||+41 71 54433-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart|
|End of Announcement||DGAP News Service|