pta20181210016
Business news for the stock market

PORR AG: Publication pursuant to sections 4 and 5 Publication Regulation (Veröffentlichungsverordnung) 2018

Purchase of treasury shares

Wien (pta016/10.12.2018/11:00 UTC+1) Non-binding English convenience translation

On 10 December 2018 the Management Board of PORR AG decided to make use of its authorisation by the Annual General Meeting of 29 May 2018 and the Annual General Meeting of 24 May 2016 to purchase 22,548 shares in PORR AG (treasury shares) held by its wholly owned subsidiary EPS Absberggasse 47 Projektmanagement GmbH.

The resolution of the Management Board is hereby disclosed pursuant to section 119 para 7 Stock Exchange Act (Börsegesetz) in conjunction with section 4 para 2 Publication Regulation 2018. Furthermore, this disclosure also constitutes the publication of the key details of the purchase of treasury shares in PORR AG (repurchase programme) pursuant to section 5 of the Publication Regulation 2002. In accordance with section 8 of the Publication Regulation, as the parent company, PORR AG is additionally subject to disclosure requirements with regard to the sale of treasury shares by a subsidiary.

1.) The resolution granting authorisation was passed by the Annual General Meeting on 29 May 2018 relating to the purchase of treasury shares and on 24 May 2016 relating to the sale of treasury shares.

2.) The resolution granting authorisation by the 138th Annual General Meeting was published in accordance with section 119 para 7 and 9 Stock Exchange Act 2018 (sec 82 para 8 and 9 Stock Exchange Act aF) on 29 May 2018 and the authorisation resolution by the 136th Annual General Meeting was published in accordance with section 82 para 8 and 9 Stock Exchange Act on 24 May 2016.

3.) Beginning and expected duration of the transfer: the transfer is expected to take place on or around 13 December 2018.

4.) Type of shares subject to purchase: no-par value bearer shares in PORR AG (ISIN AT0000609607).

5.) The intention is to purchase a volume of 22,548 shares in PORR AG. This corresponds to approximately 0.0775% of the share capital. Taking into account the treasury shares already held (193,947 shares), PORR AG shall then hold a total of 0.7441% of the current share capital or 216,495 shares.

6.) Highest and lowest consideration per share to be achieved (price): not lower than EUR 1.00 and not higher than a maximum of 10% above the average unweighted closing price of the ten trading days preceding the repurchase.

7.) Nature and purpose of the purchase of treasury shares:
The purpose of the share repurchase by PORR AG serves to simplify the organisation's structure. The shares are currently held by EPS Absberggasse 47 Projektmanagement GmbH, a wholly owned subsidiary of PORR AG. The transfer of shares will take place within the group of companies, which is why the shares are classified as treasury shares even before they are transferred.
The repurchase of treasury shares shall be realised over the counter. There are no current plans to sell or withdraw these treasury shares. The Company does not have any stock option programmes.

8.) Any impact of the transfer on the listing of the PORR AG shares: none.

9.) The Company does not currently have a stock option programme for managers or members of the Management and Supervisory Boards and is not currently planning to grant any stock options.

10.) Any changes to details relating to the repurchase transaction that have already been published will be published exclusively on the Company's website, www.porr-group.com, under "Investor Relations".

This publication does not constitute an offer to purchase or sell shares in PORR AG nor does it oblige the Company to accept any offers for the repurchase or sale of shares in PORR AG.

The Management Board

Contact:
Milena Ioveva
Head of Investor Relations and Strategy
PORR AG
Tel.: +43 (0)50626 - 1763
Email: milena.ioveva@porr.at

(end)

Emitter: PORR AG
Absberggasse 47
1100 Wien
Austria
Contact Person: Dir. Prok. Rolf Petersen
Phone: +43 50626-1199
E-Mail: rolf.petersen@porr.at
Website: www.porr-group.com
ISIN(s): AT0000609607 (Share) AT0000A19Y28 (Bond) AT0000A19Y36 (Bond) XS1555774014 (Bond)
Stock Exchange(s): Vienna Stock Exchange (Official Trade); Free Market in Frankfurt (Basic Board)
|