euro adhoc: PONGS & ZAHN AG / Buybacks / Pongs & Zahn Aktiengesellschaft decides to launch share buy-back
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Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
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02.11.2006
The CEO of Pongs & Zahn Aktiengesellschaft, Berlin, has made a decision today to launch a share buy-back of up to 500.000 shares (8.3% of the current share capital) until June 30th, 2007. The share buy-back will be executed in several tranches in accordance with the regulations of Article 8 of the Dircetive 2003/6/EG (Regulation EG 2273/2003). The decision about the number of the shares to be purchased per day will be made according to the daily market situation on the Frankfurt Stock Exchange/XETRA, where the deals will be closed.
The CEO makes use of the decision of the annual general meeting of August 18th, 2006 which gave the authorisation to buy back shares of the company until February 17th, 2008 in accordance with § 71 para. 1 no. 8 AktG (code for public limited companies); up to 10% of own shares of the current share capital can be bought back accordingly. The price per share may not exceed or fall below 5% of the opening price at the stock exchange on the five trading days before entering into the commitment to buy back shares. The opening price is determined by the opening auction in the XETRA trading system on the Frankfurt Stock Exchange. It is planned to use the bought back shares for the acquisition of a company.
The company will inform about the progress of the share buy-back on its website www.pogsundzahn.de.
Berlin, November 2nd 2006.
Chief Executive Officer
end of announcement euro adhoc 02.11.2006 18:01:00
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ots Originaltext: Pongs & Zahn AG Im Internet recherchierbar: http://www.presseportal.de
Contact: Martin Bretag Investor Relations Telefon: +49 (0) -89710-114 E-Mail: bretag@pongsundzahn.de
Branche: Synthetics & Plastics ISIN: DE0006954001 WKN: 695400 Index: CDAX, Prime All Share Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard Börse Berlin-Bremen / free trade Hamburger Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade Bayerische Börse / free trade Börse Düsseldorf / official dealing
