DGAP-News: ELMOS Semiconductor AG: ELMOS starts share buyback
(firmenpresse) - ELMOS Semiconductor AG / Share Buyback
07.06.2010 08:45
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Primary use as share-based remuneration component
Dortmund, June 7, 2010: By shareholders' resolution passed on May 4, 2010
at the Annual General Meeting of ELMOS Semiconductor AG, Dortmund, the
Management Board has been authorized, with the Supervisory Board's consent,
to purchase the company's own shares in the amount of up to 10% of the
share capital until May 3, 2015. The Management Board has decided with the
Supervisory Board's consent to make use of the authorization. The share
buyback is set to begin on June 7, 2010. Altogether up to 200,000 own
shares (ISIN DE0005677108), or 1.03% of the share capital, are intended to
be repurchased. The total purchase price for the acquisition of the
company's own shares on the basis of aforementioned resolutions must not
exceed 1,600,000 Euro (not including additional purchase costs). The
buyback is scheduled to end before or on August 31, 2010. The repurchased
shares are intended to be issued primarily in the form of employee stock
and as share-based remuneration components for Management Board members at
a later time.
The shares will be repurchased on the stock exchange in accordance with
Commission Regulation (EC) No 2273/2003 of December 22, 2003. The buyback
is carried out by employing a credit institution within the meaning of
Article 2 no. 2 of Regulation (EC) No 2273/2003 which will make its
decisions on timing the purchase of the company's shares independently of
and not influenced by ELMOS Semiconductor AG. The purchase price per share
(net of additional purchase costs) must neither exceed the opening price as
of the purchase date through Xetra trading at the Frankfurt/Main Stock
Exchange by more than 10% nor undercut it by more than 20%.
The Management Board may suspend the share buyback and resume it at any
time in compliance with the insider trading regulations provided under the
German Securities Trading Act (Wertpapierhandelsgesetz).
ELMOS Semiconductor AG will announce the buyback of own shares for each
trading day with respect to the date, the number of shares repurchased, and
the volume weighted average price within seven trading days at
www.elmos.de/englisch/investor-relations/share/stock-repurchase-program.ht
ml.
Contact: ELMOS Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1,
D-44227 Dortmund, Phone: +49 231-7549-0, Extension: -287, Fax: +49
231-7549-548, info(at)elmos.de, www.elmos.de
07.06.2010 08:45 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: ELMOS Semiconductor AG
Heinrich-Hertz-Str. 1
44227 Dortmund
Deutschland
Phone: +49 (0)231 7549-575
Fax: +49 (0)231 7549-548
E-mail: invest(at)elmos.de
Internet: http://www.elmos.de
ISIN: DE0005677108
WKN: 567710
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 07.06.2010 - 08:45 Uhr
Sprache: Deutsch
News-ID 22010
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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