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Aroundtown SA resolves on public share purchase offer to buyback own shares for up to 165 million shares

Grand Duchy of Luxembourg, 1 September 2020, 07:50 CEST

The board of directors of Aroundtown SA (the "Company") (ISIN LU1673108939) resolved today by further utilizing the authorization of the ordinary general meeting of 6 May 2020, to buy back up to 165 million shares of the Company (corresponding to up to 10.7% of the Company's share capital) through a public share purchase offer (the "Offer") against payment of a purchase price in the range of EUR 4.6 to EUR 5.0 per share. The offer period will commence on 3 September, 00:00 (CET), and is expected to end on 16 September, 24:00 (CET).

The final purchase price will be determined by the Company on the basis of tenders received from shareholders and will be equal to the lowest price within the given price range at which the Company can, based on the tenders received, purchase such number of shares as to be determined by the Company. Aroundtown shareholders are invited to tender all or part of Aroundtown shares held by them by either specifying a price within the given price range or with no specified price in which case they commit to sell their tendered shares at the final purchase price as determined after the expiry of the acceptance period. Over subscription at a price equal to, or lower than, the final purchase price will be accepted on a pro rata basis. The Company reserves the right to amend the Offer including an extension of the offer period and an increase of the price range.

In the course of its resolution, the Board of Directors has further determined to increase the maximum aggregate amount for share buy backs to up to EUR 1,000,000,000. In the event, the total consideration for buy backs under the Offer will exceed EUR 500,000,000, the current volume of the Share Buy-Back Program of the Company for acquisition of shares in the Company over the stock exchange as announced on 2 June 2020 will be reduced accordingly.

Further details on the public share purchase offer can be found in the offer document, which will be published on the Company's website (www.aroundtown.de) under the section "Investor Relations - Equity - Share - Share Buy-Back" "prior to the commencement of the offer period.

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