telegate AG / Key word(s): Share Buyback
12.11.2010 08:30
Dissemination 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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Special announcement - telegate AG, Martinsried, ISIN DE0005118806/WKN
511880
Planned repurchase of up to 10% of share capital (up to 2,123,454 shares)
at a purchase price of EUR 7.00 per share
Under the authorisation granted by the General Shareholders' Meeting of 9
June 2010, the Management Board of telegate AG decided to submit to its
shareholders a voluntary public offer for the repurchase of no-par-value
shares of telegate AG (ISIN DE0005118806 / WKN [German Securities Number]
511880). The offer is valid between 17 November 2010 and 1 December 2010,
5:00 pm (CET) and is for up to 10% of the share capital of telegate AG.
This is equal to up to 2,123,454 shares.
The offering price amounts to EUR 7.00 per telegate share. The detailed
terms of the offer can be found in the offering documents, available from
16 November 2010 on the Company's Internet site (http://www.telegate.com),
under Investor Relations. Moreover, it is anticipated that the offering
documents will be published on 16 November 2010 in the electronic version
of the German Federal Gazette [Bundesanzeiger].
The Company holds no treasury shares as of the time of publication of this
offer. The members of the Management Board have stated that they will not
take part in the share repurchase programme. According to the decision
taken by the Management Board and of the Supervisory Board, the shares
repurchased are to be redeemed.
The offer is conditional on shares of a minimum notional par value of EUR
750,000 being offered for sale to the Company. No official approvals or
clearances are required. The provisions of the German Securities
Acquisition and Takeover Act [Wertpapierübernahmegesetz] are not applicable
to this repurchase offer.
Based on the existing General Shareholders' Meeting authorisation, telegate
AG may adjust the offering price if significant deviations take place in
the authoritative price following publication of the offer. In that event,
the price will be based on the average share price on the Frankfurt Stock
Exchange (closing prices in Xetra trading or a comparable successor system
replacing Xetra) on the last three exchange trading days preceding
publication of any adjustment.
Insofar as required and as permitted by law, the repurchase programme may
be suspended at any time and subsequently resumed. telegate AG has engaged
biw Bank für Investments und Wertpapiere AG, Willich, as the central
Settlement Agent for the technical details of the processing of this offer.
Jörg Kiveris
telegate AG
Head of Public Relations Department
Fraunhofer Str. 12a
82152 Planegg-Martinsried
Tel.: 089/ 8954-1188
Fax: 089/ 8954-1189
E-Mail: presse@telegate.com
12.11.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: telegate AG
Fraunhofer Str. 12a
82152 Planegg-Martinsried
Deutschland
Phone: +49 089 - 89 54 0
Fax: +49 089 - 89 54 10 10
E-mail: info@telegate.de
Internet: www.telegate.com
ISIN: DE0005118806
WKN: 511880
Indices: Prime All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Berlin, Düsseldorf, Hannover, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Management Board of telegate AG votes to implement share repurchase programme
| Source: EQS Group AG