euro adhoc: ComBOTS AG
Buybacks
ComBOTS AG starts new Share Buyback Program
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
23.11.2005
The Executive Board of ComBOTS AG (former WEB.DE AG, ISIN: DE 000 529 650 3), Karlsruhe, has decided to start a new share buy back program on the basis of the authorization granted by the Annual General Meeting of July 6/7, 2005. The program will commence on November 24, 2005. Shares will be bought back over the stock exchange only. Pursuant to the authorization, ComBOTS AG may buy back up to 3.8 million shares, representing just under 10 percent of the issued share capital, until January 5, 2007. The Company already holds 2.17 mln. own shares from earlier share buy back programs.
Executing the program, the purchase price paid per share (excluding transaction costs) must not exceed the arithmetic mean of the XETRA closing prices on the four exchange trading days preceding the respective acquisition of own shares by more than 10 percent, or fall short of such mean by more than 20 percent.
The Executive Board is authorized to sell the shares which were bought back under this share buy back program as well as the own shares already held over the stock exchange or, subject to the principle of equal treatment, by means of an offer for sale to all existing shareholders. The Executive Board is also authorized, subject to approval of the Supervisory Board, to use all shares bought back for the acquisition of companies or to grant them to employees or members of the Executive Board of the company or its affiliated companies who are entitled to receive such shares pursuant to share options granted under the existing share option program. Pursuant to the authorisation, the bought back shares may also be used for other purposes, provided the issue price does not fall materially short of the then existing stock exchange price, or may be cancelled.
The Executive Board sees this measure, as in case of the already completed share buy back programme, as a contribution towards increasing the shareholder value for all ComBOTS shareholders. The share buy back program will initially be limited to a maximum purchase price of EUR 11.10. At this share price the obligation of the company to buy back shares pursuant to the court settlement dated October 12, 2005, with shareholder plaintiffs, becomes invalid.
The company will publish the transactions under the share buy back program according to Regulation (EC) No. 2273/2003 on its Website www.combots.com.
Further informations on www.combots.com.
end of announcement euro adhoc 23.11.2005 09:20:06
Further inquiry note:
Silvia Teschner
Junior Referentin IR
Tel.: +49 (0)721 5160 0
E-Mail: ste@combots.com
Branche: Online
ISIN: DE0005296503
WKN: 529650
Index: TecDAX, HDAX, Midcap Market Index, Prime All Share, CDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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