DGAP-News: QSC AG decides to conduct share buyback of up to 10% of the share capital
(firmenpresse) - DGAP-News: QSC AG / Key word(s): Share Buyback
QSC AG decides to conduct share buyback of up to 10% of the share
capital
11.05.2012 / 10:57
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Announcement pursuant to Art. 4 para. 2 of Commission Regulation (EC) No.
2273/2003:
QSC AG decides to conduct share buyback of up to 10% of the share capital
The Management Board of QSC AG with consent of the Supervisory Board has
resolved to buy back shares of the company of up to 10% of the share
capital, corresponding to up to 13,699,913 shares. The share buyback shall
start on 21 May 2012 (earliest potential purchase date) and is to be ended
at the latest on 31 December 2012 (latest potential purchase date).
With this move, the Management Board makes use of the authorization to
acquire own shares granted by the Annual General Meeting of QSC AG held on
20 May 2010 in accordance with Sec. 71 para. 1 No. 8 German Stock
Corporation Act to buy back shares of up to 10% of the share capital until
19 May 2015. The shares that are bought back may be used for any purpose
set forth in the authorization resolution of the Annual General Meeting of
20 May 2010. This includes in particular the redemption of the shares, the
sale of the shares by cash payment near the stock-exchange-price, holding
the shares available as cash for growth and the service of acquisition
rights, which were granted to members of the Board of Directors of QSC AG.
The share buyback will be carried out according to the requirements of Sec.
14 para. 2, 20a para. 3 German Securities Trading Act under consideration
of the so-called Safe-Harbor-Rules according to Commission Regulation (EC)
No. 2273/2003 of 22 December 2003 implementing Directive 2003/6/EC of the
European Parliament and of the Council as regards exemptions for buy-back
programmes and stabilisation of financial instruments (subsequently
'EU-Regulation 2273/2003'). The buyback will be carried out solely via
XETRA trading on the Frankfurt Stock Exchange on behalf and account of the
company through Joh. Berenberg, Gossler&Co. KG, Hamburg. Joh. Berenberg,
Gossler&Co. KG, Hamburg will decide on the timing of the purchase of the
shares and the purchase volume independently and unaffected by the company.
Joh. Berenberg, Gossler&Co. KG, Hamburg has been committed to comply with
the requirements for the purchase price per share of the authorization of
the Annual General Meeting of QSC AG held on 20 May 2010 and the conditions
for trading as per Art. 5 of EU-Regulation 2273/2003. The purchase price
(excluding transaction ancillary costs) must not exceed or fall below more
than 5% of the stock-exchange-price of the company's shares, that was
determined in the final auction in the XETRA-exchange at the Frankfurt
Stock Exchange, during the last five trading-days previous to entering into
the obligation. Furthermore the purchase price must not exceed the
stock-exchange-price of the last independently executed closing at the
XETRA trading on the Frankfurt Stock Exchange or, if higher, the highest
independent purchase offer at the XETRA trading on the Frankfurt Stock
Exchange. If taking the share's final auction stock-exchange-price in
XETRA-exchange on 10 May 2012 as a basis, the maximum buyback volume would
correspond to an amount of up to approx. EUR 23.96 million. The permitted
daily maximum buyback volume has been determinedfor the duration of the
share buyback programme. Joh. Berenberg, Gossler&Co. KG may daily
purchase up to 144,074 shares (corresponding to up to 25% of the average
daily volume of the shares in any one day on the XETRA trading on the
Frankfurt Stock Exchange during the month prior to the publication of this
announcement).
To the extent required and legally permissible, the buyback programme may
be suspended and resumed at any time.
The transactions will be disclosed in accordance with Art. 4 para. 4
EU-Regulation 2273/2003. In addition, QSC AG will weekly provide regular
updates on the progress of the share buyback at www.qsc.de under
sub-category 'Investor Relations'.
Cologne, 11 May 2012
QSC AG
The Management Board
End of Corporate News
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11.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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: QSC AG
Mathias-Brüggen-Straße 55
50829 Köln
Germany
Phone: +49-221-6698-724
Fax: +49-221-6698-009
E-mail: invest(at)qsc.de
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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169376 11.05.2012
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Datum: 11.05.2012 - 10:57 Uhr
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News-ID 145442
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