EQS-News: Form notification of share repurchase programme

Corporate News

Form notification of share repurchase programme
May 8^th, 2024

Deutsche Post AG, Bonn, Germany
WKN: 555200
ISIN: DE0005552004

Announcement pursuant to Art. 5 para 1 of Regulation (EU) No. 596/2014 in conjunction with Art. 2 para 1 of the Delegated Regulation (EU) 2016/1052 of the Commission (as amended or replaced from time to time)

In February 2022 the Company's Management Board had initially resolved to undertake a programme of share buybacks (Buyback Programme) of Deutsche Post AG for up to 50 million shares at a total purchase price of up to €2 billion. On February 14^th, 2023, the Board of Management of Deutsche Post AG resolved to increase the number of shares to be repurchased to up to 105 million shares and the total purchase price to up to €3 billion. On February 12^th, 2024, the Board of Management of Deutsche Post AG resolved to increase the number of shares to be repurchased to up to 130 million shares and the total purchase price to up to €4 billion.

The repurchased shares will either be retired, used to service long-term executive remuneration and possible future employee share offerings or to meet possible obligations under the convertible bond 2017/2025.

The repurchase via the stock exchange has started on April 8^th, 2022, and will end in December 2025 the latest. The Buyback Programme for the first two tranches were based on the authorization of the Annual General Meeting of May 6^th, 2021. A third and fourth tranche was implemented based on the authorization granted by the Company's Annual General Meeting on May 4^th, 2023.

Based on the authorization granted by the Annual General Meeting on May 4^th, 2023, shares in the amount of up to 10% of the Company's share capital existing at the date the resolution on the share buyback is adopted may be acquired. The purchase price may not exceed the average share price prior to the effective date of the transaction by more than 10% and may not be fixed more than 20% below it. The average share price is the non-volume-weighted average of the closing prices of the Company's shares in XETRA trading (or a comparable successor system) on the Frankfurt Stock Exchange on the last five trading days. The effective date is the date of the purchase or, if earlier, the date on which a commitment to purchase is entered.

Until now four tranches with a total volume of around €2.4 billion, corresponding to circa 4.9% of the share capital of the Company, were each time carried out based on an irrevocable arrangement by an independent financial service provider:

The first tranche with a total maximum volume of up to €500 million, representing up to 1% of the share capital of the Company at the share price at the start of the first tranche, was carried out between April 8^th, 2022, and end date no later than November 7^th, 2022. 

The total volume of up to €500 million of this first tranche was increased by €300 million to up to €800 million as of June 29^th, 2022, leaving the end date no later than November 7^th, 2022, unchanged. The increase of €300 million corresponded at the then current share price to 0.7% of the share capital. This first tranche was terminated on October 3^rd, 2022, shares to the total volume of around €789.5 million were repurchased.

The second tranche with a total volume of up to €500 million, this corresponded to circa 1.1% of the share capital at the then current share price was executed between November 9^th, 2022, and March 31^st, 2023. Altogether, shares to the total amount of around €500 million were repurchased.

The third tranche with a total volume of up to €500 million, this corresponded to circa 0.9% of the share capital at the then current share price was carried out between June 26^th, 2023, and September 29th, 2023.  Altogether, shares to the total amount of around €500 million were repurchased.

A fourth tranche with a total volume of up to € 600 million, this corresponded to circa 1.2% of the share capital at the then current share price, was carried out between November 13^th, 2023, and March 6^th, 2024. Altogether, shares to the total amount of around €600 million were repurchased.

A fifth tranche with a total volume of up to €600 million, this corresponds to circa 1.3% of the share capital at the current share price, will be executed between May 9^th, 2024, and December 30^th, 2024, based on an irrevocable arrangement by an independent financial service provider.

The financial service provider is obliged to carry out the purchase in compliance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council of April 16^th, 2014 on market abuse (market abuse regulation), the Delegated Regulation (EU) 2016/1052 of the Commission supplementing Regulation (EU) No. 596/2014 of the European Parliament and the Council with regard to regulatory technical standards for the conditions applicable to buyback programmes and stabilization measures, and in accordance with the authorization of the Annual General Meeting mentioned above.

Moreover, in addition to the aforementioned, the Buyback Programme will be carried out as follows:

1. The shares will be purchased at market price in accordance with the aforementioned regulations. The shares will not be bought back at higher price than the highest price of the last independent trade and the highest current independent bid in the trading venues where the purchase is made.

2. With regard to trading volume, the Company will not purchase more than 25% of the average daily volume of its shares in the regulated market in which the purchase takes place; a limit that will apply to the entire Buyback Programme. The daily average volume of the shares will be based on the average of the previous 20 daily trading volumes.

Contact:

Martin Ziegenbalg
EVP Investor Relations
Phone: +49 (0) 228 189 63000

This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.