Share buyback 2016
On May 21, 2015 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 2016.
On February 1 , 2016, 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 3 percent of the Company’s share capital, equalling up to 690,000 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 authorization may be exercised for any legally permitted purpose.
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 and – after their entry into force – any regulation enacted on the basis of Article 5 para. 6 of the Regulation (EU) no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse.