Drägerwerk AG & Co. KGaA / Key word(s): Corporate Action
Drägerwerk AG & Co. KGaA: Dräger terminates series D participation certificates
24-March-2020 / 15:24 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.
Drägerwerk AG & Co. KGaA decided today to terminate all 566,819 series D participation certificates (Genussscheine) (ISIN DE0005550719) in accordance with Section 6 (3) of their terms and conditions giving 24 months’ notice as of the end of calendar year 2022. The termination will be published in the next few days in accordance with Section14 (1) of their terms and conditions in the German Federal Gazette (Bundesanzeiger).
The buyback value is calculated pursuant to Section 12 (2) and (3) of the terms and conditions of the participation certificates and is equivalent to ten times the average stock market price of the preferred shares (Vorzugsaktien) over the three calendar months prior to the announcement of the termination (December 2019 to February 2020). The buyback value amounts to approximately EUR 310 million. The payment of the buyback value to the holders of the participation certificates will be made in January 2023 in accordance with Section 6 (7) of the terms and conditions.
Dräger is planning the payment from existing liquidity. It has sufficient credit lines if required.
Drägerwerk AG & Co. KGaA
24-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Drägerwerk AG & Co. KGaA|
|Moislinger Allee 53-55|
|Phone:||+49 (0)451 882-0|
|Fax:||+49 (0)451 882-2080|
|ISIN:||DE0005550602, DE 000 555 063 6, DE 000 555 065 1, DE 000 555 067 7, DE 000 555 071 9|
|WKN:||555060, 555063 Vorzüge, 555065 Genussschein A, 555067 Genussschein K, 555071 Genussschein D|
|Listed:||Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich; Regulated Unofficial Market in Stuttgart, Tradegate Exchange|
|EQS News ID:||1005699|
|End of Announcement||DGAP News Service|