07.11.2016
Hypoport AG DE0005493365
DGAP-News: Hypoport AG: Official notice pursuant to Article 2 (1) of Commission Delegated Regulation (EU) No. 2016/1052
DGAP-News: Hypoport AG / Key word(s): Share Buyback
Hypoport AG: Official notice pursuant to Article 2 (1) of Commission
Delegated Regulation (EU) No. 2016/1052
07.11.2016 / 15:20
The issuer is solely responsible for the content of this announcement.
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Press release
Share repurchase
Official notice pursuant to Article 2 (1) of Commission Delegated
Regulation (EU) No. 2016/1052
Berlin, 07 November 2016: The Management Board of Hypoport AG took a
decision on 1 November 2016 to repurchase some of the Company's own shares
via the stock market. The total value of the share repurchase has been set
at EUR5.0 million plus transaction costs. The maximum price per share has
been set at EUR80.00 plus transaction costs. The share repurchase programme
will begin on 08 November 2016 and will be completed by no later than 31
March 2017.
This resolution follows the authorisation granted by the Annual
Shareholders' Meeting on 10 June 2016 for the Company to purchase its own
shares. The shares can be used for all of the purposes stated in the
authorisation granted by the Annual Shareholders' Meeting. These include
use of the shares as payment in the context of acquisitions and for
servicing employee share ownership programmes. The Supervisory Board has
approved this share repurchase programme.
The repurchase programme will be carried out in compliance with the
provisions of Articles 5, 14 and 15 of Regulation (EU) No. 596/2014 of the
European Parliament and of the Council dated 16 April 2014 (Market Abuse
Regulation) in conjunction with the provisions of Delegated Regulation (EU)
No. 2016/1052 of the Commission dated 8 March 2016 (Delegated Regulation);
the only exception is the purpose of repurchase, which is more broadly
formulated than envisaged in Article 5 (2) of the Market Abuse Regulation.
The share buy-back will be executed on behalf and for the account of
Hypoport AG and will be coordinated by an independent bank. The bank must
purchase the Hypoport shares in accordance with the aforementioned
regulations and must comply with the provisions of the authorisation
granted by the Annual Shareholders' Meeting. The bank's decisions on the
timing of the purchase of shares in Hypoport AG in compliance with Article
4 (2) b) of the Delegated Regulation will be made independently of Hypoport
AG and will not be influenced by the latter. Hypoport AG will therefore not
exert any influence over the bank's decisions. The bank is specifically
required to comply with the conditions for trading specified in Article 3
of the Delegated Regulation and the stipulations contained in this share
repurchase programme.
When determining the purchase price for the shares, the bank must not offer
more than the price of the most recent transaction independently executed
on the stock exchange concerned or - if lower - the price of the currently
highest independent offer on the stock exchange concerned. Furthermore, as
stated in the authorisation granted by the Annual Shareholders' Meeting,
the price paid by the bank must not be more than 10 per cent higher or 20
per cent lower than the price for one Hypoport AG share on the Frankfurt
Stock Exchange as determined on the trade date by the opening auction in
the XETRA trading system (or any comparable successor system). Nor is the
bank permitted to purchase on any one day more than 25 per cent of the
average daily volume of Hypoport shares traded on the stock exchange on
which the shares are purchased. The average volume of Hypoport shares
traded corresponds to the average daily volume of shares traded in the
month before the repurchase programme is published.
The Management Board of Hypoport AG may at any time suspend the share
repurchase programme and - provided that the relevant legal requirements
are met - resume the programme.
As required by the Delegated Regulation, Hypoport AG will report regularly
on the executed transactions on its website at https://www.hypoport.com/
investor-relations/.
About Hypoport AG
The Hypoport Group is a technology-based financial service provider. The
business model is based on its three mutually supporting business units:
Private Clients, Financial Service Providers, and Institutional Clients.
All three units are engaged in the distribution of financial services,
facilitated or supported by finance-technology ('fintech'). As a wholly-
owned subsidiary of Hypoport, Europace AG develops and operates the web-
based EUROPACE financial marketplace, which is Germany's largest platform
for mortgages, building finance products and personal loans. A fully
integrated system links more than 350 partners - banks, insurers and
financial product distributors. Several thousand users execute some 35.000
transactions worth a total of up to EUR4 billion on EUROPACE every month.
The Hypoport subsidiary Dr. Klein & Co. AG is an independent online
distributor of financial products. This firm's specialists provide private
clients with a full range of advisory services around mortgage finance,
insurance and retirement planning. DR. KLEIN Firmenkunden AG has been a
major financial service partner to housing companies and commercial
property investors since 1954. Hypoport AG is headquartered in Berlin,
employs about 800 people and is listed in the Prime Standard of the
Frankfurt Stock Exchange. At the end of 2015 Hypoport was admitted to the
SDAX.
Contact:
Hypoport AG
Michaela Reimann
Head of Investor Relations & Public Affairs
Tel: +49 (0)30 42086 1936
Email: [email protected]
www.hypoport.com
Key data on Hypoport's shares
ISIN DE 0005493365
WKN 549336
Stock exchange symbol HYQ
Segment Regulated Market in Frankfurt (Prime Standard);
Open Market in Berlin, Düsseldorf, Stuttgart
Indices SDAX
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07.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Hypoport AG
Klosterstraße 71
10179 Berlin
Germany
Phone: +49/30 42086-0
Fax: +49/30 42086-1999
E-mail: [email protected]
Internet: www.hypoport.de
ISIN: DE0005493365
WKN: 549336
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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