EQS-News: paragon launches bond buyback programme

paragon launches bond buyback programme

• Partial redemption in accordance with current bond conditions
• Stock exchange repurchase of up to EUR 20.2 million total nominal amount
• Period from 6 November to 5 July 2025 at the latest

Delbrück | October 26, 2023 - paragon GmbH & Co. KGaA [ISIN DE0005558696] today published details of the bond buyback programme it has agreed. The direct supplier to automotive manufacturers will start on 6 November 2023 to repurchase on the stock exchange its bonds 2017/2027 (ISIN: DE000A2GSB86; WKN: A2GSB8) in an aggregate principal amount of up to EUR 20,211,000.00. The programme will run until 5 July 2025 at the latest.

When the EUR 50 million bond was rolled over in March 2022, paragon undertook to repay a total of EUR 25 million of the total nominal amount. An initial public repurchase offer of EUR 5 million was made in March 2023. The terms and conditions of the bond, which were amended in March 2022, give the company the option, in agreement with the creditors' representative, to repurchase the remaining approximately EUR 20 million through an on-exchange repurchase programme.

The repurchase will be carried out by an independent securities service provider. The latter has to observe the prohibition of market abuse (so-called "safe harbour regulations") with regard to the purchase price and purchase volume. This means that no more than 25% of the average daily turnover (20-day average) in the bonds may be purchased on the stock exchange on any one day. The Bonds will be repurchased on the regional stock exchanges in Stuttgart, Frankfurt and Tradegate Exchange.

paragon is entitled, but not obliged, to accept offers to purchase and may shorten or extend the period. It is not the primary objective of the buyback programme to further deleverage the company; in view of the low net debt ratio achieved, the company reserves the right to raise corresponding credit funds on the market to finance the buyback. paragon will report on the progress of the bond buyback programme on its website (https://paragon.ag) on an ongoing basis.

Profile: paragon GmbH & Co. KGaA

Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA (ISIN DE0005558696) develops, produces and distributes pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. The portfolio of the market-leading direct supplier to the automotive industry includes innovative air quality management, modern display systems and connectivity solutions, as well as high-end acoustic systems in the electronics segment. In the mechanics segment, paragon develops and produces active mobile aerodynamic systems. In the fast-growing automotive market for battery systems, paragon's Power business unit supplies battery management systems and traction batteries.

In addition to its headquarters in Delbrück (North Rhine-Westphalia), paragon GmbH & Co. KGaA and its subsidiaries have sites in Suhl (Thuringia), Landsberg am Lech and Nuremberg (Bavaria), St. Georgen (Baden-Württemberg) and Limbach (Saarland), as well as in Kunshan (China), Bengaluru (India) and Oroslavje (Croatia).

For more information on paragon, visit www.paragon.ag.

Capital Market & Press Contact

paragon GmbH & Co. KGaA

Dr. Martin Esser

Bösendamm 11

D-33129 Delbrück

Phone: +49 (0) 52 50 - 97 62-200

Fax: +49 (0) 52 50 - 97 62-102

E-Mail: investor@paragon.ag