Covestro AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
October 06, 2017 at 08:05 am EDT
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DGAP Voting Rights Announcement: Covestro AG
Covestro AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
06.10.2017 / 14:03
Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Notification of Major Holdings
1. Details of issuer
Covestro AG
Kaiser-Wilhelm-Allee 60
51373 Leverkusen
Germany
2. Reason for notification
X
Acquisition/disposal of shares with voting rights
Acquisition/disposal of instruments
Change of breakdown of voting rights
Other reason:
3. Details of person subject to the notification obligation
Name:
City and country of registered office:
The Goldman Sachs Group, Inc.
Wilmington, Delaware United States of America (USA)
4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.
5. Date on which threshold was crossed or reached:
28 Sep 2017
6. Total positions
% of voting rights attached to shares (total of 7.a.)
% of voting rights through instruments (total of 7.b.1 + 7.b.2)
total of both in % (7.a. + 7.b.)
total number of voting rights of issuer
Resulting situation
3.31 %
0.77 %
4.09 %
202500000
Previous notification
n/a %
n/a %
n/a %
/
7. Notified details of the resulting situation a. Voting rights attached to shares (Sec.s 21, 22 WpHG)
ISIN
absolute
in %
direct (Sec. 21 WpHG)
indirect (Sec. 22 WpHG)
direct (Sec. 21 WpHG)
indirect (Sec. 22 WpHG)
DE0006062144
6711375
%
3.31 %
Total
6711375
3.31 %
b.1. Instruments according to Sec. 25 para. 1 No. 1 WpHG
Type of instrument
Expiration or maturity date
Exercise or conversion period
Voting rights absolute
Voting rights in %
Securities Lending
open
1376591
0.68 %
Total
1376591
0.68 %
b.2. Instruments according to Sec. 25 para. 1 No. 2 WpHG
Type of instrument
Expiration or maturity date
Exercise or conversion period
Cash or physical settlement
Voting rights absolute
Voting rights in %
Swap
21.06.2019
Cash
104361
0.05 %
Put Warrant
15.12.2017
Cash
63200
0.03 %
Call Warrant
21.06.2019
Cash
21630
0.01 %
Total
189191
0.09 %
8. Information in relation to the person subject to the notification obligation
Person subject to the notification obligation is not controlled and does itself not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer (1.).
X
Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:
Name
% of voting rights (if at least held 3% or more)
% of voting rights through instruments (if at least held 5% or more)
Total of both (if at least held 5% or more)
The Goldman Sachs Group, Inc.
%
%
%
Goldman Sachs (UK) L.L.C.
%
%
%
Goldman Sachs Group UK Limited
%
%
%
Goldman Sachs International
%
%
%
The Goldman Sachs Group, Inc.
%
%
%
Goldman Sachs & Co. LLC
%
%
%
The Goldman Sachs Group, Inc.
%
%
%
GSAM Holdings LLC
%
%
%
Goldman Sachs Asset Management, L.P.
%
%
%
Goldman Sachs Asset Management International Holdings L.L.C.
%
%
%
Goldman Sachs Asset Management Co., Ltd.
%
%
%
The Goldman Sachs Group, Inc.
%
%
%
Goldman, Sachs & Co. Wertpapier GmbH
%
%
%
9. In case of proxy voting according to Sec. 22 para. 3 WpHG
Date of general meeting:
Holding position after general meeting:
% (equals voting rights)
10. Other explanatory remarks:
06.10.2017 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Covestro AG is one of the world's leading manufacturers of polymer materials. Its products are primarily used in the automotive, construction, electronics, furniture and textile industries. Net sales break down by family of products as follows:
- specialty products (50.5%): raw materials for coatings, adhesives and films;
- performance materials (47.8%): polyurethanes (flexible polyurethane foam mainly used in furniture, mattress and car seat upholstery, and rigid polyurethane foam used in the composition of building and refrigeration equipment insulation) and polycarbonates (high-performance polycarbonates used in automotive components, roof structures and medical devices);
- other (16.3%).
At the end of 2023, the group operated 48 production sites around the world.
Net sales are distributed geographically as follows: Germany (12.1%), the United States (21.8%), China (21.4%) and other (44.7%).