Record participation level for Lanxess employee stock plan

ERJ staff report (LMH)

Leverkusen, Germany - Chemical company Lanxess has said its employee stock plan is “proving very popular.” About 75 percent of about 8000 eligible employees in Germany are taking part in the 2011 stock plan, Lanxess AG said in a 20 July announcement.

According to the company, this means the high participation rates of previous years have once again been exceeded: In 2008, 73 percent of eligible employees bought Lanxess shares for their deposits; in 2007 about 64 percent and in 2006 some 58 percent.

"We are very pleased with this record that clearly shows our employees in Germany are convinced by the company's growth story," commented CFO Bernhard Düttmann.

The Lanxess Group offered managerial and non-managerial employees in Germany the opportunity to buy shares in the company at a discount of 50 percent to the price of Euro 57.54. The shares are subject to a three-year lock-up period.

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Press release from Lanxess