adidas AG: adidas stops share buyback program
adidas AG/ Key word(s): Share Buyback adidas AG: adidas stops share buyback program 31-March-2020/ 17:47 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
adidas AG / Key word(s): Share Buyback FOR IMMEDIATE RELEASE Considering the high level of economic uncertainty caused by the dynamic developments related to the coronavirus outbreak, the adidas Executive Board decided to proactively adopt a conservative approach to liquidity management in order to preserve the company's financial flexibility in the current environment. After already temporarily suspending the 2020 tranche of its current multi-year share buyback program on March 17, immediately after retail closures across Europe and North America started to come into effect, the Executive Board decided today to formally stop the repurchasing of adidas shares for the remainder of the year. Consequently, the company will not deploy the amount of up to € 1.0 billion that was initially planned for the repurchase of own shares in 2020. ***
For more information, please visit adidas-group.com. 31-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | adidas AG |
| Adi-Dassler-Straße 1 | |
| 91074 Herzogenaurach | |
| Germany | |
| Phone: | +49 9132 84 0 |
| Fax: | +49 9132 84 2241 |
| Internet: | www.adidas-group.com |
| ISIN: | DE000A1EWWW0, US00687A1079, US00687P1049 |
| WKN: | A1EWWW, A0MNCC , 909676 |
| Indices: | DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1012181 |
| End of Announcement | DGAP News Service |