schlott gruppe Aktiengesellschaft / Share Buyback
30.09.2008
Release of a Adhoc News, 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 in new financial year 2008/9
- Continuation of share repurchase programme originally initiated in
autumn 2007 in new financial year 2008/9
Freudenstadt, September 30, 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 on November 9, 2007. Based on the new authorisation
granted by the General Meeting of Shareholders on February 26, 2008, under
consideration of shares already repurchased, to continue the share
repurchase programme, the Management Board passed a resolution on February
29, 2008 for the continuation of its stock buyback programme until the end
of 2007/8 financial year on September 30, 2008 and the repurchase of up to
566,062 additional shares. Today, the Management Board passed a resolution
for the continuation of its stock buyback programme after the end of the
2007/8 financial year. Under consideration of the shares bought back up to
and including September 29, 2008, an additional 509.054 shares are planned
to be repurchased until January 9, 2009.
The reacquisition is to be executed via the stock exchange; the
consid-eration 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 is expected to be further managed by DZ BANK; for this
purpose the company aims at extending the current 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 February
26, 2008, while complying with the full range of restrictions concerning
the buyback of shares, as set out in Commis-sion Regulation (EC) No.
2273/2003 of December 22, 2003 ('EC-CR'), observing all other applicable
regulations and executing the reacquisi-tion 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.
DGAP 30.09.2008
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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 Aktiengesellschaft: Share Buyback
| Source: EQS Group AG