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ADLER Real Estate AG: Share buyback programme resolved

DGAP-News: ADLER Real Estate AG / Key word(s): Share Buyback

16.06.2017 / 15:05

The issuer is solely responsible for the content of this announcement.


ADLER Real Estate AG: Share buyback programme resolved

- Maximum total purchase price: EUR 10 million

- Programme to begin on 16 June 2017

 

Berlin, 16 June 2017. The Management Board of ADLER Real Estate AG, Berlin, today resolved to execute a share buyback programme with a maximum total purchase price (excluding ancillary expenses) of up to EUR 10 million. Based on the current share price (XETRA closing price on 15 June 2017), this corresponds to up to 664,451 shares or approximately 1.27% of the company's current statutory share capital. ADLER is authorised to buy back own shares by resolution of the extraordinary general meeting held in October 2015.

The buyback programme is due to begin on 16 June 2017 and will run for an indefinite period. It will end once the maximum total volume is reached or if the Management Board decides to terminate the programme. ADLER intends to use the treasury shares as acquisition currency should suitable market opportunities arise.

Arndt Krienen, CEO of ADLER Real Estate AG, comments: "ADLER is [effectively] the only German listed real estate company whose stock is traded with a discount to its NAV. We therefore think that the buyback programme at the current share price level is attractive for ADLER. In case we are able to use these shares as acquisition currency in subsequent acquisitions, we would benefit from a double advantage should this acquisition currency have gained in value in the meantime."


16.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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