GILDEMEISTER resolves upon share buyback
Bielefeld, August 25, 2011 – The Executive Board of GILDEMEISTER AG, Bielefeld (ISIN DE0005878003) resolved to make use of the authorization to buy back shares of the company granted by the shareholders at the annual general meeting on May 14, 2010 in accordance with Section 71 para. 1 no. 8 of the German Stock Corporation Act ( Aktiengesetz ).
Up to a total of 3,068,581 shares of the company will be repurchased (corresponding to approximately 5.1% of the company's capital share). The repurchased shares can be used for all purposes covered by the authorization of the annual general meeting; in particular, the company is considering to use the repurchased shares as an acquisition currency.
Shares will be repurchased exclusively through the XETRA trade of Deutsche Börse AG (Frankfurt Stock Exchange). The share buyback will be conducted in compliance with the terms of trade detailed in Article 5 of Commission Regulation (EC) No. 2273/2003 of December 22, 2003.
The value per share to be paid by the Company (excluding any incidental costs of purchase) shall not by more than 5% exceed or fall short of the price for the Company shares as established on the trading date through the opening auction in the electronic XETRA Trading System (or a functionally comparable system that replaces it) at the Frankfurt Stock Exchange.
The share buyback will be executed by a credit institute which will decide on the time of the share's purchase independently and uninfluenced by the company.
The share buyback will commence from August 26, 2011 and will end on December 31, 2011 at the latest. The company's Executive Board can decide to terminate the share buyback early at any time.
The Executive Board