Vossloh AG / Share Buyback
15.10.2008
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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Vossloh AGs Executive Board decides to repurchase treasury stockforecast
for fiscal 2008 reaffirmed
Vossloh AGs Executive Board has resolved today to exercise the authority
conferred by the May 31, 2007 and May 21, 2008 annual general meetings and
to repurchase from the stock market up to 1,479,582 Vossloh shares,
equivalent to a maximum of 10% of the capital stock. The Supervisory Board
has approved the resolution.
The repurchased treasury stock may be used for any of the purposes stated
in the above-mentioned AGM resolutions.
The price paid by Vossloh AG for one treasury share (excl. purchase
incidentals) may neither be below 5% of, nor more than 5% above, the
average Vossloh stock price as quoted at the closing auction of the Xetra
trade at the Frankfurt Stock Exchange during the five trading days
preceding the treasury stock acquisition date.
The stock repurchase program will commence October 16, 2008, and end not
later than April 15, 2009. The stock repurchase will be managed by a bank
independently and uninfluenced by Vossloh AG and be implemented in
accordance with the trading terms of EC Regulation No. 2273/2003 of the EU
Commission dated December 22, 2003.
Unwavering, the Executive Board predicts that the targets for fiscal 2008
will be achieved. Since the Infrastructure Services business unit (VIS) was
disposed of in 2008, the Vossloh Group looks to sales of 1,126 million,
like-for-like an 11% improvement on 2007 (excluding VIS). EBIT is
forecasted to amount to some 131 million, hence up 18% like-for-like.
Including the one-time book gain from the disposal of VIS, the Vossloh
Groups net earnings will accordingly total about 128 million.
Werdohl, October 15, 2008
The Executive Board
DGAP 15.10.2008
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Language: English
Issuer: Vossloh AG
Vosslohstr. 4
58791 Werdohl
Deutschland
Phone: +49 (0)2392 52 - 249
Fax: +49 (0)2392 52 - 219
E-mail: investor.relations@ag.vossloh.com
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Vossloh AG: Vossloh AGs Executive Board decides to repurchase treasury stockforecast for fiscal 2008 reaffirmed
| Source: EQS Group AG