DGAP-News: WashTec AG / Key word(s): Share Buyback
WashTec AG: Announcement on Share Buy-Back Program
14.08.2012 / 14:16
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WashTec AG, Augsburg
- German securities identification number 750750 -
- ISIN DE0007507501 -
Announcement on Share Buy-Back Program of WashTec AG
On August 14, 2012, the Management Board of WashTec AG, Augsburg (the
'Company') resolved, with the consent of the Supervisory Board of that same
day, to acquire up to 400,000 of the Company's own shares on the stock
exchange during the period through May 4, 2013, under the Share Buy-Back
Program described below. This corresponds to up to approx. 2.86 percent of
the Company's current share capital. By adopting this resolution, the
Management Board is making use of the authorization provided by the General
Meeting of Shareholders adopted on May 5, 2010 pursuant to sec. 71 (1) (8)
German Stock Companies Act [Aktiengesetz, German acronym: AktG].
The shares acquired under the Buy-Back Program may, inter alia, be re-sold
in connection with the Company's direct or indirect acquisition of
corporate entities, sub-units of corporate entities or equity stakes, or
may be used for potential future stock option programs. The Company
reserves the right to retire shares acquired under the Buy-Back Program in
whole or in part.
This buy-back is being managed by one or more financial institutions, which
shall decide on the time of acquiring buy-back shares in a manner which is
independent of and not influenced by the Company. The share buy-back is
being undertaken substantially on the basis of secs. 14 (2) and 20a (3) of
the German Securities Trading Act [Wertpapierhandelsgesetz, German acronym:
WpHG] in conjunction with Commission Regulation (EC) No. 2273/2003,
implementing Directive 2003/6/EC of the European Parliament and of the
Council as regards exemptions for buy-back programs and stabilisation of
financial instruments (hereinafter the 'EC Regulation'). The buy-back is to
be undertaken in line with the 'safe harbor' rules under the
above-referenced provisions. The Company shall instruct the financial
institution or institutions to ensure compliance with the conditions for
trading under Article 5 of the EC Regulation and the rules prescribed under
this Share Buy-Back Program. In addition, the Company will instruct the
financial institution or institutions to furnish to it such information on
all transactions as is required for trading in conformity with the EC
Regulation.
The purchase price per share to be paid by the Company (net of incidental
transaction costs) must not exceed or fall short of (by more than 10
percent) the average stock exchange price of the Company's shares at the
closing auction of Xetra trading (or comparable successor system) on the
Frankfurt Stock Exchange during the last five trading days prior to the
acquisition of the shares. The shares shall be exclusively bought back in
Xetra trading on the stock exchange. The Company shall not acquire the
shares at a price which is higher than the last independent trade or
currently highest independent offer in Xetra trading (if higher). The
Company may not buy back more than 25 percent of the average daily trading
volume of shares in the Company on the regulated market on which the
purchase takes place; average daily volume shall be derived from the
average trading volume over the 20 exchange trading days prior to the date
of purchase.
The Company reserves the right to suspend and to resume the Buy-Back
Program, to the extent permitted by law, at any time during the
above-referenced period running through 4 May, 2013.
The Company will regularly provide information on transactions under the
Share Buy-Back Program and the progress thereof on its website,
www.washtec.de.
Augsburg, dated August 14, 2012
WashTec AG
The Management Board
Contact:
WashTec AG
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 55 84 - 0
Fax: +49 (0)821 - 55 84 - 1135
End of Corporate News
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14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: WashTec AG
ArgonstraÃe 7
86153 Augsburg
Germany
Phone: +49 (0)821 55 84-0
Fax: +49 (0)821 55 84-1135
E-mail: washtec@washtec.de
Internet: www.washtec.de
ISIN: DE0007507501
WKN: 750750
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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179986 14.08.2012
DGAP-News: WashTec AG: Announcement on Share Buy-Back Program
| Source: EQS Group AG