Covestro AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
January 11, 2024 at 12:18 pm EST
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EQS Voting Rights Announcement: Covestro AG
Covestro AG: Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
11.01.2024 / 18:16 CET/CEST
Dissemination of a Voting Rights Announcement transmitted by EQS News - 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
Name:
Covestro AG
Street:
Kaiser-Wilhelm-Allee 60
Postal code:
51373
City:
Leverkusen Germany
Legal Entity Identifier (LEI):
3912005AWHKLQ1CPLV11
2. Reason for notification
Acquisition/disposal of shares with voting rights
X
Acquisition/disposal of instruments
Change of breakdown of voting rights
Other reason:
3. Details of person subject to the notification obligation
Legal entity: Bank of America Corporation City of registered office, country: Wilmington, DE, 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:
09 Jan 2024
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 pursuant to Sec. 41 WpHG
New
0.39 %
4.81 %
5.20 %
189000000
Previous notification
0.59 %
4.27 %
4.86 %
/
7. Details on total positions a. Voting rights attached to shares (Sec. 33, 34 WpHG)
ISIN
Absolute
In %
Direct (Sec. 33 WpHG)
Indirect (Sec. 34 WpHG)
Direct (Sec. 33 WpHG)
Indirect (Sec. 34 WpHG)
DE0006062144
0
375232
0.00 %
0.20 %
US22304D2071
0
363683
0.00 %
0.19 %
Total
738915
0.39 %
b.1. Instruments according to Sec. 38 (1) no. 1 WpHG
Type of instrument
Expiration or maturity date
Exercise or conversion period
Voting rights absolute
Voting rights in %
Right to Recall
n/a
n/a
1643356
0.87 %
Rights of Use
n/a
n/a
20064
0.01 %
Call Option Physical
19/01/2024 - 15/03/2024
n/a
1736400
0.92 %
Total
3399820
1.80 %
b.2. Instruments according to Sec. 38 (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 %
Swaps
22/01/2024 - 15/02/2028
n/a
Cash
4688847
2.48 %
Put Option
15/03/2024
n/a
Physical
1000000
0.53 %
Total
5688847
3.01 %
8. Information in relation to the person subject to the notification obligation
Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) 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 3% or more)
% of voting rights through instruments (if at least 5% or more)
Total of both (if at least 5% or more)
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BofAML Jersey Holdings Limited
%
%
%
BofAML EMEA Holdings 2 Limited
%
%
%
Merrill Lynch International
%
%
%
-
%
%
%
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BAC North America Holding Company
%
%
%
Bank of America, National Association
%
%
%
-
%
%
%
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BofA Securities, Inc
%
%
%
-
%
%
%
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BAC North America Holding Company
%
%
%
Merrill Lynch, Pierce, Fenner & Smith Incorporated
%
%
%
Managed Account Advisors LLC
%
%
%
-
%
%
%
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BAC North America Holding Company
%
%
%
Bank of America, National Association
%
%
%
U.S. Trust Company of Delaware
%
%
%
-
%
%
%
Bank of America Corporation
%
%
%
NB Holdings Corporation
%
%
%
BAC North America Holding Company
%
%
%
Merrill Lynch, Pierce, Fenner & Smith Incorporated
%
%
%
9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)
Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:
Proportion of voting rights
Proportion of instruments
Total of both
%
%
%
10. Other explanatory remarks:
Date
11 Jan 2024
11.01.2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com
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%).