EANS-News: Andritz AG
Announcement
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Buybacks
Graz (euro adhoc) - The 104th Annual General Meeting of Shareholders held on March 29, 2011 adopted the following resolutions concerning item 8 on the agenda:
"1. Pursuant to sec. 65 para. 1 sub-para. 8 AktG (Austrian Stock Corporation
Act), the Executive Board is given authorization for a period of thirty
months from April 1, 2011 to buy back own shares of the company to the
maximum extent permitted by law and to possibly cancel these company shares
with approval from the Supervisory Board without having to submit the
matter to the Annual General Meeting of Shareholders again. Any trading in
the company´s own shares for the purpose of profit-making is expressly
excluded.
2. The lowest price per no-par value share must not be less than the
respective amount represented by each share in the capital stock. The
highest price paid per share upon buy-back must not exceed the average
unweighted closing price over the ten trading days on the Vienna Stock
Exchange preceding exercise of this authorization by more than 10%.
3. This resolution, as well the buy-back program based thereon and any resale
program, are to be published, also stating their respective durations.
4. The Executive Board is given authorization for a period of five years as
from the date of adopting the resolution to decide, with approval from the
Supervisory Board, on alienating own shares partially or entirely in a way
other than by sale via the stock exchange or by public offer, thereby also
excluding public purchase (exclusion of subscription rights) if such
alienation of own shares (i) serves to provide shares for a share option
program benefitting management and Executive Board members or (ii) serves
as a consideration in the acquisition of companies, businesses, business
units or shares in companies."Graz-Andritz, March 2011 The Executive Board
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
Dr. Michael Buchbauer
Head of Group Treasury, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com
Branche: Machine Manufacturing
ISIN: AT0000730007
WKN: 632305
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market