DGAP-News: Deutsche Telekom AG: Announcement of share buy-back
(firmenpresse) - DGAP-News: Deutsche Telekom AG / Key word(s): Share Buyback/Share
Buyback
Deutsche Telekom AG: Announcement of share buy-back
22.09.2011 / 08:00
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Deutsche Telekom AG, Bonn
- ISIN DE0005557508 -
- Securities identification code 555 750 -
Announcement of share buy-back
Board of Management of Deutsche Telekom AG resolves to buy back shares in
connection with the share matching plan
On September 20, 2011 the Board of Management of Deutsche Telekom AG, Bonn,
ISIN E0005557508, resolved to purchase 206,371 shares in Deutsche Telekom
AG on the stock exchange corresponding to around 0.0048 percent of the
capital stock of Deutsche Telekom AG at the conditions listed below and for
the following purposes. Based on the closing price of the share in Xetra
trading on September 19, 2011 of EUR 8.33, the cost of 206,371 shares would
be EUR 1,719,070.43.
Deutsche Telekom AG is thus exercising the authorization granted by the
shareholders' meeting on May 12, 2011 under item 7 of the agenda to buy
back Deutsche Telekom shares until November 11, 2012.
In accordance with the Board of Management resolution on September 20,
2011, the share buy-back will begin on September 23, 2011 (earliest
possible acquisition date) and be completed on October 19, 2011 (latest
possible acquisition date).
In accordance with the resolution of the Board of Management, some of the
shares (83,760 shares) will be used to fulfill the rights of entitled
parties who are not Board of Management members to receive shares in
Deutsche Telekom AG as part of the share matching plan. The Board of
Management has not resolved on a specific use for the remaining shares
(122,611 shares). Subject to a corresponding resolution of the Supervisory
Board, it shall be possible to use these shares to fulfill the rights of
Board of Management members to receive shares in Deutsche Telekom as part
of the share matching plan.
The share buy-back will be carried out merely on the basis of the safe
harbour provisions of§14 (2) and§20a (3) of the German Securities Trading
Act (Wertpapierhandelsgesetz - WpHG) in conjunction with Commission
Regulation (EC) No. 2273/2003 of December 22, 2003 implementing Directive
2003/6/EC of the European Parliament and of the Council as regards
exemptions for buy-back programs and stabilization of financial instruments
(hereinafter referred to as the 'EC Regulation'), as the intended use of
the shares only fulfills these provisions in part. The share buy-back will
be managed by a financial institution that will decide on the timing of the
purchase of the shares at its own discretion, independently of and without
influence by Deutsche Telekom AG. Deutsche Telekom' s right to terminate
the financial institution's mandate ahead of time and to block further
share buy-backs in accordance with the applicable legal provisions remains
unaffected.
The financial institution has pledged to Deutsche Telekom AG in particular
that when purchasing shares of Deutsche Telekom AG it will comply with the
specifications of the authorization granted by the shareholders' meeting on
May 12, 2011 as well as the conditions for trading set out in Article 5 (1)
and (2) of the EC Regulation.
The shares will be exclusively repurchased on the stock exchange via the
Xetra trading platform of Deutsche Börse AG (Frankfurt Stock Exchange). In
accordance with the authorization granted by the shareholders' meeting on
May 12, 2011, the consideration (excluding transaction costs) for the
buy-back of Deutsche Telekom shares on the stock exchange may not exceed by
5 percent or fall more than 5 percent below the market price of the share
determined by the opening auction of Deutsche Börse AG on the respective
trading day in Xetra trading. The maximum purchase price to be paid thus
amounts to 105 percent of the above-mentioned market price.
Furthermore, the shares will not be purchased at a price higher than the
higher of the price of the last independent trade and the last highest
current independent bid on the trading venues where the purchase is carried
out. The higher of these two values shall apply.
Deutsche Telekom AG will not purchase more than 25 percent of the average
daily volume of the shares in any one day on the stock exchange on which
the purchase is carried out. The average daily volume figure is based on
the average daily volume traded in the 20 trading days preceding the date
of purchase.
Deutsche Telekom AG will provide regular updates on all transactions via
the Deutsche Telekom AG website (http://www.telekom.com) and make published
information available free of charge at company headquarters (Deutsche
Telekom AG, Investor Relations, Friedrich-Ebert-Allee 140, 53113 Bonn,
Germany;
Tel: +49 (0) 228 181 88887; Fax +49 (0) 228 181 88339; E-mail:
investor.relations(at)telekom.de).
End of Corporate News
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22.09.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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: Deutsche Telekom AG
Friedrich Ebert Allee 140
53113 Bonn
Germany
Phone: +49 (0)228 181-88880
Fax: +49 (0)228 181-88899
E-mail: investor.relations(at)telekom.de
Internet: www.telekom.com
ISIN: DE0005557508
WKN: 555750
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München, Stuttgart;
Terminbörse EUREX; Amsterdam, London, NYSE, Tokyo
End of News DGAP News-Service
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