Volume of up to EUR 2 million/Deletion of shares bought back in 2014
Heidelberg. The management board of Deutsche Rohstoff AG (ISIN DE000A0XYG76, WKN A0XYG7) with the approval of the Supervisory Board today approved a share buyback program to reacquire shares with a value of up to EUR 2 million via the stock market. The share buyback was decided at the shareholder meeting on 23 July 2013. Based on the Xetra closing price of the stock of Deutsche Rohstoff AG (as of 28 July 2015) a volume of up to approximately 125.000 shares would be reacquired. The share buyback will begin on 1 August 2015 and will end on 30 June 2015 by the latest. The reacquired shares can be used for all purposes in accordance with the applicable regulations under stock corporation law and all admissible purposes in accordance with the above mentioned authorizations.
The company has appointed ICF Bank AG, Frankfurt, to conduct the buyback. The bank shall make its decisions regarding the date of the acquisition of the shares independently of, and without influence by, the Company. The right of Deutsche Rohstoff AG to prematurely terminate the repurchase remains unaffected. The repurchase will be carried out via the stock exchange. The purchase price per share (each excluding ancillary costs of purchase) shall not exceed or fall short of the non-weighted average closing price on the Frankfurt stock exchange which is applicable on the three stock market trading days preceding the creation of the obligation to acquire the shares by more than 10 %.
Furthermore, the bank repurchasing the shares is obliged to comply with the terms of trade detailed in Article 5 of Commission Regulation (EC) No. 2273/2003 of December 22, 2003 („EC-CR“), furthermore observing all other applicable regulations. According to the provisions of the EC-CR the bank may not determine a purchase price which exceeds the price of the last independent trade at the respective stock exchange or the highest current independent bid, whichever is the higher. According to Article 5 (2) of the Regulation, the bank must not purchase more than 25 % of the average daily volume of the shares in any one day on the stock market on which the sale is carried out. The average volume of shares is based on the average daily volume of shares traded in the 20 days prior to the purchase. In the case of exceptionally low liquidity the bank hast he right to exceed the 25 % threshold providing that the conditions of Art. 5 (3) of the aforementioned regulation are met.
The share buy-back may be suspended and resumed at any time to the extent permissible under the relevant legal provisions. Deutsche Rohstoff will publish transactions carried out in relation to this program on the company’s website (www.rohstoff.de) in the Investor Relations section on a regular basis.
Management and supervisory board also approved the deletion of 259.075 shares that the company bought back during the buyback program 2014. After the deletion, the share capital of Deutsche Rohstoff will stand at EUR 5.063.072 equivalent to 5.063.072 shares.
Heidelberg, 29 July 2015
Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complement our portfolio. For more information please visit www.rohstoff.de.