euro adhoc: Westag & Getalit AG
Buybacks
Westag & Getalit AG
launches share buy-back programme
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
31.05.2005
Having obtained the Supervisory Boards approval, the Management Board of Westag & Getalit AG has decided to repurchase up to 300,000 Westag & Getalit AG preference shares at favourable prices. This buy-back programme was authorised by the August 12, 2004 Annual General Meeting in accordance with Section 71 Paragraph 1 (8) of the German Stock Corporation Act (AktG). The programme commences on June 1, 2005.
The shares will be bought back through the stock market at prices which are no more than 10% higher or lower than the average closing price of the preference shares on the Frankfurt stock exchange on the three days preceding a repurchase.
Even though the declining profit trend seen in the first quarter of the current financial year will apparently become even more pronounced in the second quarter, the Management Board anticipates an improved profit performance in the medium term and therefore considers the companys own shares to be an attractive investment.
end of announcement euro adhoc 31.05.2005 16:32:10
Further inquiry note:
Felix Huisgen
Tel.: +49 (0)5242 17 5350
E-Mail: huisgen@westag-getalit.de
Branche: Building materials
ISIN: DE0007775207
WKN: 777520
Index: Prime Standard, Prime All Share
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing