Ad hoc: HEAD NV Announces Share Buy Back
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Head N.V. /
Ad hoc: HEAD NV Announces Share Buy Back
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Amsterdam - 17(th) March 2011 - Head NV (VSX: HEAD; U.S. OTC: HEDYY.PK), a
leading global manufacturer and marketer of sports equipment, announced the
following share buy backs today.
Head NV has bought back 8,876,431 ordinary listed shares in Head NV amounting to
10.06% of the issued share capital of the company. These shares were bought by
Head NV at a cost of ?4,169,119.
The shares will be used to fulfil Head NV's outstanding obligations under its
stock option programme. Full details of this programme can be found in our
annual and quarterly reports on our website.
This buyback presented Head NV with the opportunity to service its stock option
programme without shareholders suffering dilution, at an attractive price,
through a direct repurchase that, with current trading volumes, would have been
unattainable via any on-exchange buyback.
About Head
HEAD NV is a leading global manufacturer and marketer of premium sports
equipment.
HEAD NV's ordinary shares are listed on the Vienna Stock Exchange ("HEAD").
Our business is organized into four divisions: Winter Sports, Racquet Sports,
Diving and Licensing. We sell products under the HEAD (tennis, squash and
racquetball racquets, tennis balls, tennis footwear, badminton products, alpine
skis, ski bindings and ski boots, snowboards, bindings and boots and
sportswear), Penn (tennis and racquetball balls), Tyrolia (ski bindings), and
Mares/Dacor (diving equipment) brands.
For more information, please visit our website: www.head.com
Analysts, investors, media and others seeking financial and general information,
please contact:
Clare Vincent, Investor Relations
Tel: +44 207 499 7800
Fax: +44 207 491 7725
E-mail:headinvestors(at)aol.com
Gunter Hagspiel, Chief Financial Officer
Tel: +43 5574 608
Fax +43 5574 608 130
E-mail:g.hagspiel(at)head.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate", "believe", "could", "estimate", "expect",
"intend", "may", "plan", "predict", "project", "will" and similar terms and
phrases, including references to assumptions, as they relate to Head N.V., its
management or third parties, identify forward-looking statements. Forward-
Looking statements include statements regarding Head NV's business strategy,
financial condition, results of operations, and market data, as well as any
other statements that are not historical facts. These statements reflect beliefs
of Head NV's management as well as assumptions made by its management and
information currently available to Head NV. Although Head NV believes that these
beliefs and assumptions are reasonable, the statements are subject to numerous
factors, risks and uncertainties that could cause actual outcomes and results to
be materially different from those projected. These Factors include, but are not
limited to, the following: the impact of the current global economic turmoil,
weather and other factors beyond our control, competitive pressures and trends
in the sporting goods industry, our ability to implement our business strategy,
our liquidity and capital expenditures, our ability to obtain financing, our
ability to compete, including internationally, our ability to introduce new and
innovative products, legal proceedings and regulatory matters, our ability to
fund our future capital needs, and general economic conditions. These factors,
risks and uncertainties expressly qualify all subsequent oral and written
forward-looking statements attributable to Head NV or persons acting on its
behalf.
Head NV
Rokin 55
NL 1012 KK Amsterdam
Shares:
ISIN: NL0000238301
Stock Market: Official Market of the Vienna Stock Exchange
Notes:
HTM Senior Notes ISIN: XS0184717956 and XS0184719143
HTM Senior Secured Notes ISIN: XS0447202218 and XS044702309
Listing: Luxembourg Stock Exchange
--- End of Message ---
Head N.V.
Rokin 55 Amsterdam Niederlande
WKN: 577203 ;ISIN: NL0000238301;
Share Buy Back:
http://hugin.info/133711/R/1497610/433315.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Head N.V. via Thomson Reuters ONE
[HUG#1497610]
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 52519
Anzahl Zeichen: 5442
contact information:
Town:
Amsterdam
Kategorie:
Business News
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