schlott gruppe Aktiengesellschaft / Share Buyback
29.02.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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schlott gruppe continues stock buyback
ª Continuation of share repurchase programme originally initiated at end of
2007
ª Share price fails to reflect overall prospects of schlott gruppe
Freudenstadt, February 29, 2008. Based on the authorisation granted by the
General Meeting of Shareholders on March 13, 2007, the Management Board of
schlott gruppe AG had passed a resolution for the repurchase of up to
620,420 company shares effective from November 12, 2007. In view of this
year's Annual General Meeting of Shareholders on February 26, 2008, the
repurchase of company shares had subsequently been suspended as
communicated in an ad hoc announcement of January 11, 2008 between
January 14 and February 27, 2008. By January 11, 2008 inclusive, the
company had repurchased 54,358 shares.
Today, based on the new authorisation granted by the General Meeting of
Shareholders on February 26, 2008, the Management Board passed a resolution
for the continuation of its share repurchase programme with effect from
March 3, 2008 until the end of 2007/8 financial year on September 30, 2008,
and the repurchase of up to 566,062 additional treasury shares.
The reacquisition is to be executed via the stock exchange; the
consideration per share (excluding ancillary costs of purchase) may not
exceed or fall below 10% of the mean value of opening prices (openingauction price of schlott gruppe shares in XETRA trading) on the final three
days of trading prior to entering into a purchase obligation. Pursuant to
the authorisation granted by the 2008 General Meeting of Shareholders, the
reacquired shares may subsequently be disposed of, recalled or utilised for
the purpose of servicing warrants and convertible bonds. The company hereby
advises that no such warrants and/or convertible bonds are currently in
place. Furthermore, at present there are no plans to dispose of or recall
the reacquired shares.
The reacquisition will continue to be managed by DZ BANK; for this purpose
the company has entered into a contract of engagement with DZ BANK. Under
the contract of engagement DZ BANK is obliged to execute the reacquisition
solely on the basis of the provisions set out in the resolution passed by
the General Meeting of Shareholders of March 13, 2007, and the resolution
passed by the General Meeting of Shareholders of February 26, 2008, while
complying with the full range of restrictions concerning the buyback of
shares, as set out in Commission Regulation (EC) No. 2273/2003 of December
22, 2003 ('EC-CR'), observing all other applicable regulations and
executing the reacquisition in a manner that is efficient and in the
interests of the company.
In accordance with Sections 14 (2) and 20a (3) of the Securities Trading
Act (Wertpapierhandelsgesetz WpHG) in conjunction with Art. 4 paragraphs
3 and 4 of the above-mentioned EC-CR, the company will furnish regular
reports on all executed transactions on its corporate website
(http://www.schlottgruppe.de), in addition to publishing the information
required under the aforementioned EC-CR according to applicable
regulations.
For further information, please contact:
schlott gruppe AG
Marco Walz
Investor Relations & PR
Wittlensweilerstraße 3
72250 Freudenstadt
DEUTSCHLAND
Tel.: +49 7441 531-230
Fax: +49 7441 531-204
marco.walz@schlottgruppe.de
www.schlottgruppe.de
DGAP 29.02.2008
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Language: English
Issuer: schlott gruppe Aktiengesellschaft
Wittlensweilerstraße 3
72250 Freudenstadt
Deutschland
Phone: +49 (0)7441 531-230
Fax: +49 (0)7441 531-204
E-mail: marco.walz@schlottgruppe.de
Internet: www.schlottgruppe.de
ISIN: DE0005046304
WKN: 504630
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: schlott gruppe continues stock buyback
| Source: EQS Group AG