SOLVAY : SOLVAY TREASURY SHARES PROGRAM RENEWED FOR FURTHER PURCHASES IN 2011 UP TO 1.65 MILLION SHARES
(Thomson Reuters ONE) -
Press Release
Brussels, 12 January 2011 at 5:50 p.m. (Brussels time)
REGULATED INFORMATION
Solvay announces today that its Board of Directors decided to renew for a period
of one year its treasury shares program, which matured at the end of last year,
for further purchases up to 1.65 million own shares in 2011.
The treasury share investment program is intended as a temporary investment of a
part of the cash resulting from the sale of the pharmaceutical activities before
reinvestment in industrial assets. It was initiated one year ago. In 2010, the
investment in Solvay shares amounted to 880,766 shares.
In accordance with the financial transparency rules and legislation, the
description of the treasury share investment program is as follows:
The Extraordinary Shareholders' Meeting of 12th May 2009 authorized the Board of
Directors for a period of five years to acquire on the stock exchange up to a
maximum of 16,940,000 of the company's own shares, at a price between 20 EUR and
150 EUR.
In the framework thereof, the Board of Directors decided in December 2009 to
initiate an investment program of the company's own shares. In 2010, the
investment in Solvay shares totaled 880,766 shares. This program has been
renewed by the Board of Directors up to end of 2011 for further purchases up to
1.65 million own shares.
A credit institution has been mandated to execute this investment program.
On 31 December 2010 Solvay held through its indirect subsidiary Solvay Stock
Option Management 2,754,818 Solvay shares or 3.25% of the issued Solvay shares.
In line with the applicable regulations, Solvay reports the details of the
transactions under this program on its website.
SOLVAY is an international industrial Group active in Chemistry. It offers a
broad range of products and solutions that contribute to improving quality of
life. The Group is headquartered in Brussels and employs about 17,000 people in
40 countries. In 2009, its consolidated sales amounted to EUR 8.5 billion.
Solvay is listed on the NYSE Euronext stock exchange in Brussels, Belgium (NYSE
Euronext:SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are
available at www.solvay.com.
For further information please contact:
ERIK DE LEYE
Corporate Press Officer
SOLVAY S.A.
Tel: +32 2 509 7230
erik.deleye(at)solvay.com
www.solvaypress.com
PATRICK VERELST
Head of Investor Relations
SOLVAY S.A.
Tel. +32 2 509 7243
patrick.verelst(at)solvay.com
www.solvay-investors.com
20110112 Treasury Final EN:
http://hugin.info/133981/R/1479304/414979.pdf
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originality of the information contained therein.
Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1479304]
Unternehmensinformation / Kurzprofil:
Datum: 12.01.2011 - 17:57 Uhr
Sprache: Deutsch
News-ID 50409
Anzahl Zeichen: 3686
contact information:
Town:
Brussels
Kategorie:
Business News
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