Share buyback 2009
On May 19, 2009 the annual General Shareholders’ Meeting has authorized the Board of Managing Directors for a period of 18 months to repurchase shares in the Company’s own share capital up to a maximum amount of 50 percent of the Company’s issued share capital. The authorization for the repurchase is given until November 2010.
On June 02, 2009, the Board of Managing Directors has passed a resolution to make partly use of the authorization of the Annual General Shareholders’ Meeting by repurchasing up to 10 percent of the Company’s share capital, equalling up to 2,278,970 shares.
The consideration for the shares to be repurchased will be at least 80 percent of the stock price at the Frankfurt Stock Exchange (opening price on Xetra) of the shares of the Company at the date of such repurchase and at the most 120 percent of such stock price.
The purpose of the buy-back programme is to meet obligations arising from the employee share option programmes. Further, repurchased shares may also be cancelled, thus reducing the Company`s stock capital.
The buyback will be carried out in accordance with the rules of Commission Regulation (EC) No. 2273/2003 of December, 22 2003 implementing Directive 2003/6/EC of the European Parliament and of the Council as regards exemptions for buyback programmes and stabilisation of financial instruments
Overview share buyback
Summary of the shares purchased under the buyback scheme in accordance with Commission Regulation (EC) no. 2273/2003 of 22 December 2003, Article 4, Para. 4: