MLP SE: Release of a capital market information / Share buyback programme
January 30, 2018 at 05:45 am EST
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DGAP Post-admission Duties announcement: MLP SE / Announcement pursuant to Art. 5 (1) of EU Regulation 596/2014 and Art. 2 (1) of EU Commission Delegated Regulation 2016/1052
MLP SE: Release of a capital market information / Share buyback programme
30.01.2018 / 11:44
Dissemination of a Post-admission Duties announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The Executive Board at MLP SE has decided, with the consent of the
Supervisory Board, to acquire treasury shares in MLP SE (ISIN:
DE0006569908) for a total purchase price (not including incidental
acquisition costs) of up to EUR 2,350,000 ('share buyback
programme'). On
the basis of the price determined by the closing auction in XETRA trading
on the last day of stock market trading in Frankfurt am Main prior to this
publication of EUR 5.62, this corresponds to a volume of up to 418,200
shares in MLP SE. The buyback shall be effected via XETRA trading on the
Frankfurt Stock Exchange during an acquisition period from February 1, 2018
(earliest possible acquisition date) to February 28, 2018
(latest possible
acquisition date). The shares bought back are to be used for a
share-based
participation programme for the office managers and consultants that
operate as independent commercial agents at MLP Finanzberatung SE, a
subordinate affiliated company of MLP SE.
The share buyback programme will be carried out on the basis of the
authorisation issued by the Annual General Meeting of MLP SE on June 29,
2017. According to this authorisation, MLP SE or a dependent Group company
is authorised to acquire MLP SE shares until June 28, up to a pro-rata
amount of the Company's existing total share capital at the time of
approval of the resolution on the authorisation of EUR 10,933,468
attributable to these shares - which corresponds to slightly less than 10%
of the share capital. If the MLP SE shares are acquired via the stock
exchange, the equivalent value paid per share (not including incidental
acquisition costs) shall not exceed by more than 10 % or not fall short
by
more than 10 % of the arithmetic average of the share prices (closing
auction price of the MLP SE share in XETRA trading or a comparable
successor system) on the last three trading days prior to acquisition.
The acquisition of treasury shares is performed by MLP Finanzberatung SE, a
subordinate affiliated company of MLP SE, by instructing a financial
institution. The financial institution has given an undertaking to MLP
Finanzberatung SE that it will carry out the buyback exclusively via the
stock exchange and in accordance with the authorisation granted by the
Annual General Meeting of MLP SE on June 29, 2017, as well as the
provisions of EU Regulation 2014/596 and EU Commission Delegated Regulation
2016/1052.
As per Art. 4 (2b) of EU Commission Delegated Regulation 2016/1052,
the
financial institution reaches its decisions regarding the timing of the
acquisition of shares in MLP SE independently and without any influence
from MLP Finanzberatung SE or MLP SE. The financial institution is obliged
to acquire the shares at market prices in line with the trading conditions
of Art. 3 of EU Commission Delegated Regulation 2016/1052. In particular,
the shares in MLP SE acquired within the scope of the buyback are not
acquired at a price higher than that of the last independent trade or
(if
this is higher) than that of the highest respective independent bid on
the
XETRA trading system. In addition to this, no more than 25% of the average
daily trading volume of MLP SE shares may be acquired on the XETRA trading
system on any one trading day. The average daily trading volume is
calculated on the basis of the average daily volume traded during the 20
trading days prior to the respective purchase date.
The share buyback programme can be suspended and also resumed at any time
within the acquisition period to the extent required and legally
permissible.
Information on the transactions undertaken in the context of the share
buyback programme will be adequately disclosed in both detailed and
aggregated form no later than by the end of the seventh trading day
following the day of executing the corresponding transactions. Pursuant to
Art. 2 (3) of EU Commission Delegated Regulation 2016/1052, MLP SE
will
publish the announced transactions on its website at www.MLP-SE.de under
the rubric Investors/MLP Share and keep this information available for the
public for at least five years from the date of public disclosure.
30.01.2018 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
MLP SE is a Germany-based holding company engaged in the investment management and fund operators industries. Through its subsidiaries, the Company operates as a financial services company which offers financial products and solutions. The Company operates four business segments. The Financial Services segment provides consulting services, insurance, investments, pension provision schemes and loans, as well as contract brokering concerning these financial services, among others. In addition, this segment includes portfolio management, trustee credit business and credit card business. The Feri segment covers wealth and investment consulting. The Holding business segment covers the Company's internal services and activities. The Non-Life Insurance segment covers underwriting. All segments are active in Germany, whereas the Feri segment also operates in Luxembourg. The Company operates MLP Finanzdienstleistungen AG, FERI AG, TPC GmbH and the DOMCURA Group as wholly owned subsidiaries.