DGAP-CMS: Covestro AG: Disclosure of information to a buy-back programme pursuant to Art. 2 (1) of Commission Delegated Regulation (EU) 2016/1052

Covestro AG  / Share buy-back

31.10.2016 22:43

Dissemination of a Post-admission Duties announcement, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Subject: Covestro AG: Disclosure of information to a buy-back programme
pursuant to Art. 2 (1) of Commission Delegated Regulation (EU) 2016/1052

Information on issuer and content:

Name: Covestro AG

Address: Kaiser-Wilhelm-Allee 60, 51373 Leverkusen

Content of the publication: Covestro AG / Buy-back programme


Disclosure pursuant to Art. 2 (1) of Commission Delegated Regulation (EU)
2016/1052

Information relating to a buy-back programme 

On June 22, 2016 the Executive Board of Covestro AG (the 'Company') with
corporate seat in Leverkusen (ISIN DE0006062144) resolved to exercise in
part the authorization granted by the general meeting of the Company on
September 1, 2015 to acquire own shares. The approval by the Supervisory
Board is not required. The acquisition of own shares will be effected by
Covestro Deutschland AG, a 100% subsidiary of the Company.

 1. Purpose of the programme 

The acquired own shares will be transferred to persons employed by the
Company or certain affiliated companies in the context of an employee share
participation programme in November 2016.

Therefore, the sole purpose of the buy-back programme is to meet
obligations within the meaning of Article 5 (2) lit. (c) of Regulation (EU)
No 596/2014 of April 16, 2014.

 2. Maximum pecuniary amount allocated to the programme

The maximum pecuniary amount allocated to the programme (i.e. the maximum
total purchase price for the acquisition of shares in the Company excluding
incidental acquisition costs) amounts to EUR 6,950,000.00.

The conditions for trading pursuant to Art. 3 of Commission Delegated
Regulation (EU) 2016/1052 of March 08, 2016 will be complied with.

 3. Maximum number of shares to be acquired

The maximum number of shares to be acquired can be derived by dividing the
above mentioned maximum pecuniary amount of EUR 6,950,000.00 by the average
of the volume weighted average prices for the trading days within the
purchase period.

Based on the share price as shown in XETRA on October 28, 2016 (closing
price), the maximum number of shares would be 129,327 (representing
approximately 0.064% of the outstanding shares).

 4. Duration of the programme 

The buy-back programme shall be effected during the period from November
01, 2016 to November 04, 2016.

 5. Further details

The buy-back programme will be carried out by Deutsche Bank
Aktiengesellschaft(the 'Bank')which will, within the aforementioned time
period, make its decisions regarding the exact timing of the purchase of
shares in the Company independently from, and without influence by, the
Company. The Bank will also undertake vis-à-vis the Company to comply with
the conditions for trading pursuant to Art. 3 of Commission Delegated
Regulation (EU)2016/1052 of March 08, 2016.

Information on the transactions relating to the buy-back programme will be
publicly disclosed in an adequate manner in accordance with Art. 2 (3)
Sentence 1 in conjunction with (2) of Commission Delegated Regulation (EU)
2016/1052 of March 08, 2016 no later than by the end of the seventh daily
market session following the date of execution of such transactions.

The Company will also post all transactions disclosed on its website
(www.covestro.com) in the section 'Investor Relations' in accordance with
Art. 2 (3) Sentence 2 of Commission delegated Regulation (EU) 2016/1052 of
March 08, 2016 and will keep that information available to the public for
at least a 5-year period from the date of adequate public disclosure.

Leverkusen, October 31, 2016

    



31.10.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      Covestro AG
              Kaiser-Wilhelm-Allee 60
              51373 Leverkusen
              Germany
Internet:     www.covestro.com
 
End of Announcement                             DGAP News-Service
 
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