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Germany : HOCHTIEF decides to conduct Share Buyback.

The Executive Board of HOCHTIEF Aktiengesellschaft decided to continue the share buyback programme that was concluded on December 31, 2015. Up to 2,780,000 no-par value shares in HOCHTIEF Aktiengesellschaft (approx. 4% of the Companys share capital) shall be bought back by HOCHTIEF Aktiengesellschaft. The purchase of the shares shall be conducted via the Frankfurt stock exchange (Xetra). The shares that are bought back may be used for any purpose set forth in the authorization resolution of the Annual General Meeting of May 6, 2015 and for any purpose permissible under applicable Stock Corporation Law.

The share buyback programme is based on the authorization of the Annual General Meeting of May 6, 2015, to launch a share buyback programme for shares in the amount of up to 10% of the Companys share capital until May 5, 2020. The purchase price per share (not including incidental acquisition costs) may not be more than 10% above or below the arithmetic mean of the prices of no-par value shares of HOCHTIEF Aktiengesellschaft in the closing auction in XETRA trading (or an equivalent successor system) on the Frankfurt Stock Exchange during the last ten stock market trading days preceding the conclusion of the obligating Transaction.

The buyback will be carried out in the period between January 12, 2016 and September 30, 2016 by a bank to be commissioned by the Company and in accordance with Art. 4 to 6 of the Directive (EC) No 2273/2003 of the Commission of December 22, 2003.

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Publication:Mena Report
Date:Jan 12, 2016
Words:263
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