OMV intends to continue to purchase own shares
Wien (euro adhoc) -
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
- Share buy back program continued to serve primarily outstanding convertible bonds
Notification of the intended purchase of own shares of the Company pursuant to section 65 para 1 no. 4 and 8 and para 1a of the Austrian Stock Corporation Act (Aktiengesetz) and section 82 para 8 Stock Exchange Act (Börsegesetz)
The OMV Executive Board decided to continue the purchase of own shares to serve the convertible bonds and stock options on January 8, 2007. The legal authorization was obtained at the Annual General Meeting on May 24, 2006 (published on the OMV website www.omv.com > About OMV > Investor Relations > Investor News > Annual General Meeting 2006 on May 24, 2006 and on page 36, in Wiener Zeitung on May 27, 2006).
Share buyback 2007 Period: January 12, 2007 until November 23, 2007 Type: non-par value share (ISIN: AT0000743059) Intended volume: up to 2,500,000 shares, i.e. up to 0.83% of the total number of shares Repurchase price: current stock price with a minimum of EUR 25 and a maximum price per share which must not exceed the average un-weighted closing price over the ten preceding trading days by more than 30% Type of sale: via Vienna Stock Exchange Purpose: the acquired company shares will be used to serve convertible bonds or will be offered to members of the Executive Board of OMV Aktiengesellschaft and defined senior executive managers of OMV Aktiengesellschaft and associated companies in the form of stock options
Convertible bonds In June 2006 the Company commenced a share buyback program during which a total of 4,695,400 shares were repurchased until the end of December 2006. These shares have been used exclusively to serve bonds converted into ordinary shares, avoiding the need to issue new shares. As at January 1, 2007 the total number of convertibles outstanding is 165,459 (equaling 1,654,590 shares). The additional share buy back program for 2007 is intended to be used primarily for serving the outstanding convertible bonds.
Changes and transactions will be published on the OMV homepage www.omv.com > About OMV > Investor Relations > Stock Information > Stock Buybacks/Sale.
end of announcement euro adhoc 08.01.2007 17:30:00
Further inquiry note:
OMV
Investor Relations:
Ana-Barbara Kuncic
Tel. +43 1 40 440-21443; e-mail: investor.relations@omv.com
Press:
Bettina Gneisz-Al-Ani
Tel. +43 1 40 440-21660; e-mail: bettina.gneisz@omv.com
Thomas Huemer
Tel. +43 1 40 440-21660; e-mail: thomas.huemer@omv.com
Internet Homepage: http://www.omv.com
Branche: Oil & Gas - Downstream activities
ISIN: AT0000743059
WKN: 874341
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing