- WKN: 750750
- ISIN: DE0007507501
- Land: Germany
Nachricht vom 14.08.2012 | 14:16
WashTec AG: Announcement on Share Buy-Back Program
WashTec AG / Key word(s): Share Buyback
WashTec AG, Augsburg
Announcement on Share Buy-Back Program of WashTec AG
On August 14, 2012, the Management Board of WashTec AG, Augsburg (the 'Company') resolved, with the consent of the Supervisory Board of that same day, to acquire up to 400,000 of the Company's own shares on the stock exchange during the period through May 4, 2013, under the Share Buy-Back Program described below. This corresponds to up to approx. 2.86 percent of the Company's current share capital. By adopting this resolution, the Management Board is making use of the authorization provided by the General Meeting of Shareholders adopted on May 5, 2010 pursuant to sec. 71 (1) (8) German Stock Companies Act [Aktiengesetz, German acronym: AktG].
The shares acquired under the Buy-Back Program may, inter alia, be re-sold in connection with the Company's direct or indirect acquisition of corporate entities, sub-units of corporate entities or equity stakes, or may be used for potential future stock option programs. The Company reserves the right to retire shares acquired under the Buy-Back Program in whole or in part.
This buy-back is being managed by one or more financial institutions, which shall decide on the time of acquiring buy-back shares in a manner which is independent of and not influenced by the Company. The share buy-back is being undertaken substantially on the basis of secs. 14 (2) and 20a (3) of the German Securities Trading Act [Wertpapierhandelsgesetz, German acronym: WpHG] in conjunction with Commission Regulation (EC) No. 2273/2003, implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buy-back programs and stabilisation of financial instruments (hereinafter the 'EC Regulation'). The buy-back is to be undertaken in line with the 'safe harbor' rules under the above-referenced provisions. The Company shall instruct the financial institution or institutions to ensure compliance with the conditions for trading under Article 5 of the EC Regulation and the rules prescribed under this Share Buy-Back Program. In addition, the Company will instruct the financial institution or institutions to furnish to it such information on all transactions as is required for trading in conformity with the EC Regulation.
The purchase price per share to be paid by the Company (net of incidental transaction costs) must not exceed or fall short of (by more than 10 percent) the average stock exchange price of the Company's shares at the closing auction of Xetra trading (or comparable successor system) on the Frankfurt Stock Exchange during the last five trading days prior to the acquisition of the shares. The shares shall be exclusively bought back in Xetra trading on the stock exchange. The Company shall not acquire the shares at a price which is higher than the last independent trade or currently highest independent offer in Xetra trading (if higher). The Company may not buy back more than 25 percent of the average daily trading volume of shares in the Company on the regulated market on which the purchase takes place; average daily volume shall be derived from the average trading volume over the 20 exchange trading days prior to the date of purchase.
The Company reserves the right to suspend and to resume the Buy-Back Program, to the extent permitted by law, at any time during the above-referenced period running through 4 May, 2013.
The Company will regularly provide information on transactions under the Share Buy-Back Program and the progress thereof on its website, www.washtec.de.
Augsburg, dated August 14, 2012
The Management Board
End of Corporate News
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|Phone:||+49 (0)821 55 84-0|
|Fax:||+49 (0)821 55 84-1135|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart|
|End of News||DGAP News-Service|
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