adidas AG / Key word(s): Share Buyback
01.10.2014 08:50
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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FOR IMMEDIATE RELEASE October 1, 2014
AD-HOC: adidas AG to initiate a multi-year shareholder return programme
Herzogenaurach - With approval of the Supervisory Board, the Executive
Board of adidas AG resolved today to launch a multi-year shareholder return
programme of up to EUR 1.5 billion in total to be completed by December 31,
2017. This programme is in addition to the adidas Group's stated policy to
pay an annual dividend to shareholders in the range of 20% to 40% of net
income attributable to shareholders.
The shareholder return programme will be executed especially by buying back
shares via the stock exchange under the authorisation given by the Annual
General Meeting on May 8, 2014 through to May 7, 2019. The shareholder
return programme will predominantly be financed from the Group's free cash
flow.
The authorisation given by the Annual General Meeting on May 8, 2014 covers
the repurchase of up to 10% of the company's share capital on the stock
exchange through to May 7, 2019, currently representing 20,921,618 shares.
The purchase price per share may not be more than 10% higher or lower than
the average stock market price for the adidas AG share price as established
in the opening auction of the electronic trading system on the Frankfurt
Stock Exchange on the day of entering into the repurchase obligation.
Share repurchases are envisaged to be conducted in accordance with the
Commission Regulation (EC) No. 2273/2003 of December 22, 2003 or,
respectively, any applicable provisions substituting Commission Regulation
(EC) No. 2273/2003. Further details will be published prior to the start of
the share buyback programme.
adidas AG intends to start the share buyback programme in the fourth
quarter of 2014. adidas AG reserves the right to discontinue the share
buyback programme at any time.
***
Contacts:
Media Relations Investor Relations
Jan Runau John-Paul O'Meara
Chief Corporate Communication Officer SVP Strategy/Investor Relations
Tel.: +49 (0) 9132 84-3830 Tel.: +49 (0) 9132 84-2751
Katja Schreiber Christian Stoehr
Director Corporate Communication Senior Investor Relations Manager
Tel.: +49 (0) 9132 84-3810 Tel.: +49 (0) 9132 84-4989
Yifeng Wang
Assistant Manager Investor Relations
Tel.: +49 (0) 9132 84-3057
Please visit our corporate website: www.adidas-Group.com
01.10.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: adidas AG
Adi-Dassler-Straße 1
91074 Herzogenaurach
Germany
Phone: +49 9132 84 0
Fax: +49 9132 84 2241
E-mail:
Internet: www.adidas-group.com
ISIN: DE000A1EWWW0, US00687A1079, US00687P1049
WKN: A1EWWW, A0MNCC , 909676
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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