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    PTA-CMS  768  0 Kommentare Erste Group Bank AG: Framework programme for Erste Group share transactions by savings banks of the Haftungsverbund



    Announcement according to article 82 section 9 BörseG

    Vienna (pta026/14.11.2014/17:35) - The Haftungsverbund regulates the co-operation of the Austrian savings banks and provides the legal framework for all savings banks of the Haftungsverbund to be consolidated in Erste Group's financial statements, as defined by section 59 of the Austrian Banking Act (BWG).

    The Haftungsverbund agreement allows Erste Group Bank AG to exercise control over all savings banks of the Haftungsverbund, which are therefore considered associated companies within the scope of section 228 (3) of the Austrian Commercial Code (UGB). Consequently, Erste Group shares owned by these savings banks are regarded as treasury shares within the scope of section 65 of the Stock Corporation Act (AktG). As a result transactions in Erste Group shares by these savings banks are subject to enhanced approval and disclosure requirements.

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    Based on the authorisation granted by the General Meeting of 16 May 2013 (valid until 15 May 2018) for the purchase of own shares in accordance with section 65 (1 no. 8, 1a, 1b) of the Stock Corporation Act (AktG), on 14 November 2014 the management board of Erste Group Bank AG, subject to the approval of the supervisory board, adopted the resolution on the framework programme for the envisaged disposal and purchase of Erste Group Bank AG shares by the savings banks considered associated companies within the meaning of section 228 (3) UGB and whose shares in Erste Group Bank AG are thus considered own shares within the meaning of section 65 of the AktG.

    According to this resolution, up to 10,000,000 shares of Erste Group (2.33% of the share capital) may be sold under the disposal programme during the period from 12 December 2014 to 15 May 2018, and up to 10,000,000 shares of Erste Group may be bought under the purchase programme during the period from 12 December 2014 and 15 November 2015.

    Details on the disposal programme

    1. Day on which the authorisation was granted by the General Meeting: 16 May 2013

    2. Day and mode of publication of this resolution by the General Meeting: publication on 17 May 2013 via electronic information dissemination systems in accordance with section 82 (8) Austrian Stock Exchange Act (BörseG)

    3. Start and expected duration of the programme for the disposal of own shares: 12 December 2014 to 15 May 2018

    4. Class of shares: voting no-par value bearer shares (ordinary shares) in Erste Group Bank AG

    5. Maximum volume: in total up to 10,000,000 shares Share capital percentage of shares to be sold: 2.33%

    6. Highest and lowest price to be achieved per share: EUR 2 per share shall constitute the lowest consideration and EUR 120 shall be the maximum consideration
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    Verfasst von Pressetext (Adhoc)
    PTA-CMS Erste Group Bank AG: Framework programme for Erste Group share transactions by savings banks of the Haftungsverbund The Haftungsverbund regulates the co-operation of the Austrian savings banks and provides the legal framework for all savings banks of the Haftungsverbund to be consolidated in Erste Group's financial statements, as defined by section 59 of the …

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