10.05.2018
Zalando SE DE000ZAL1111
DGAP-Adhoc: Zalando SE: MANAGEMENT BOARD DECIDES TO BUY BACK OWN SHARES UP TO EUR 50 MIO. IN VALUE FOR STOCK OPTION PROGRAMS
DGAP-Ad-hoc: Zalando SE / Key word(s): Share Buyback
Zalando SE: MANAGEMENT BOARD DECIDES TO BUY BACK OWN SHARES UP TO EUR 50
MIO. IN VALUE FOR STOCK OPTION PROGRAMS
10-May-2018 / 17:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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at the same time Disclosure according to Art. 5 para. 1 lit. a) Regulation
(EU) No. 596/2014 and Art. 2 para. 1 of Commission delegated Regulation (EU)
No. 2016/1052 // Share Buy-Back
berlin, 10 May 2018 // The Management Board of Zalando SE decided today to
implement a share buy-back program based on the authorization of the
Company's Annual General Meeting of 2 June 2015. The Company will buy back
up to 1,250,000 own shares with a total purchase price (excluding incidental
transaction charges) of up to EUR 50 million (whichever value is reached
earlier).
Zalando SE acquires the shares to meet obligations arising from share option
programs to employees of the Zalando Group and to members of the Management
Board of Zalando SE. The shares therefore serve the purpose of a buy-back
program pursuant to Art. 5 para. 2 lit. (c) Regulation (EU) No. 596/2014 of
the European Parliament and of the Council of 16 April 2014. The buy-back
will start on 11 May 2018 with a maximum duration until 4 June 2018.
The buy-back will be executed through the stock exchange in line with the
safe harbour requirements of buy-back programs set forth by Regulation (EU)
No. 596/2014 of the European Parliament and of the Council of 16 April 2014
and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 and in
line with the authorization of the Company's Annual General Meeting of 2
June 2015. The share repurchases will be carried out by an independent bank
which will, within the aforementioned time period, make its trading
decisions regarding the exact timing of the purchases of shares
independently of, and without any influence by, the Company. The bank is
obliged to comply with the trading conditions of Art. 3 of Commission
Delegated Regulation (EU) 2016/1052 and the provisions contained in this
share buy-back program.
The price paid by Zalando SE per Company share (excluding incidental
transaction charges) may neither exceed the stock market price of a Zalando
share at the Frankfurt Stock Exchange on the trading day, as determined
during the opening auction in Xetra trading (or a comparable successor
system) by more than 10% nor fall below such market price by more than 20%.
Zalando will not purchase more than 25% of the average daily turnover in the
shares on the venue where the purchases of shares are made on any trading
day. The average daily turnover is calculated based on the average daily
volume traded during the 20 trading days preceding the date of the
respective purchase. Information on the transactions relating to the
buy-back program will be published according to Art. 2 of Commission
Delegated Regulation (EU) 2016/1052 no later than by the end of the seventh
daily market session following the date of the execution of the transaction
and will be made available on the Company's website under
www.corporate.zalando.com/en/investor-relations.
Person making the notification: Dr. Ansgar Schönborn, Head of Corporate Law
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10-May-2018 CET/CEST 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: Zalando SE
Tamara-Danz-Straße 1
10243 Berlin
Germany
E-mail: [email protected]
Internet: https://corporate.zalando.de
ISIN: DE000ZAL1111
WKN: ZAL111
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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684579 10-May-2018 CET/CEST
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