Heidelberger Druckmaschinen Concludes 150 Million Euro Share Buyback Program.HEIDELBERG, Germany -- Heidelberger Druckmaschinen AG (Heidelberg) (FWB (Fixed Wireless Broadband) See fixed wireless. : HDD (Hard Disk Drive) See hard disk and HDD caddy. HDD - hard disk drive ) has concluded the share buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may program begun on November 9, 2005. On the basis of the authorization granted by the Annual General Meeting of July 20, 2005, a total of 4,295,424 shares or 5 percent of the capital stock were bought back by July 26, 2006, at an average price of 35.00 Euro. This amounts to a total figure of 150,349,212.29 Euro. On March 31, 2006, a total of 2,857,777 no-par bearer shares Bearer share Security not registered on the books of the issuing corporation and thus payable to possessor of the shares. Negotiable without endorsement and transferred by delivery, thus avoiding some of the control associated with ordinary shares. (3.3 percent of outstanding shares) were withdrawn by means of a simplified capital retirement process in compliance with the German Stock Corporation Act, Section 71, para. 1, no. 8 sentence 6. After completion of the share buyback program, Heidelberger Druckmaschinen AG holds 1,384,424 of its own shares (1.67 percent of outstanding shares). |
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