Buderus Establishes Employee Stock Purchase Plan.WETZLAR Wetzlar (vĕts`lär), city (1994 pop. 54,188), Hesse, central Germany, on the Lahn River. Situated in a region where iron ore is mined, the city has a metallurgical industry. , Germany--(BUSINESS WIRE)--June 25, 1998--Buderus AG (Frankfurt: BUD), the Germany-based heating and specialty products group, today announced that it has established an employee stock purchase plan in order to enable Buderus employees to more easily participate in the ongoing success and growth of the company. As a part of the new plan, employees of Buderus and its domestic subsidiaries will be allowed to purchase shares of the company at a discounted rate. This year, the shares will be available for purchase from June June: see month. 22 until July July: see month. 31, 1998 at DM 600 per share, roughly a 30% discount to recently quoted prices. The Buderus employee stock purchase plan differs from conventional stock option plans in that it is open to all Buderus employees, allowing much broader participation. Management has encouraged employees throughout the Buderus organization to participate in the new plan with the idea of increasing interest in Buderus' share performance by employees with no previous experience in the capital markets. This purchase plan fulfills requests for such a program from many Buderus employees. Information on Buderus, a world leader in heating, specialty steel products and castings, is available on Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. under the symbol BUD GR and on Reuters Reuters British cooperative news agency. Founded in 1851 by Paul Julius Reuter, it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. under BUDG.O. Additional information is available on Buderus Group AG's home page: http://www.buderus.de. CONTACT: Buderus AG Klaus Klaus is a German given name and surname. It originated as a short form of Nikolaus, a German form of the given name Nicholas. Notable persons whose family name is Klaus
or Taylor Rafferty Associates James Prout, 212-889-4350 |
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