Ah-hoc announcement: Board of Management resolves share buyback to facilitate issue of shares to employees
Bornheim, July 1, 2013. The Board of Management of Hornbach-Baumarkt-AG, based in Bornheim/Pfalz, ISIN DE0006084403, today resolved to acquire up to 50,000 own shares pursuant to Section 71 (1) No. 2 of the German Stock Corporation Act (AktG). The shares are to be acquired already in preparation for the annual issue of shares to employees scheduled to take place at the end of 2013.
The buyback of shares on the basis of this management board resolution is to be undertaken in accordance with the safe harbor regulations set out in Section 20a (3) of the German Securities Trading Act (WpHG) in conjunction with Regulation (EC) No. 2273/2003 of the European Commission dated December 22, 2003.
The buyback of shares will begin on July 5, 2013 and will run for a limited period expiring at the end of the 2013/2014 fiscal year (balance sheet date on February 28, 2014). The purchase price to be paid by the company per share (excluding acquisition expenses) may not exceed or fall short of the stock market price by more than 10%. The stock market price shall be taken in this respect to be the average of the closing prices in Xetra trading at the Frankfurt Stock Exchange on the five stock market trading days immediately preceding the respective acquisition. Moreover, the shares will not be acquired at a price in excess of that determined pursuant to Article 5 (1) of Regulation (EC) No. 2273/2003 of the European Commission dated 22 December 2003.
Further information concerning the buyback of shares has been published in the "Investor Relations/Share buyback" section on the internet and can be found at the following URL:
Moreover, the transactions executed will also be published at this address pursuant to Article 4 (4) of Regulation (EC) No. 2273/2003 of the European Commission dated December 22, 2003.
Head of Group Communications
T +49 (0) 6348-60-2444
F +49 (0) email@example.com
We use a third-party service to embed stock quotes and the stock chart. This service may collect data about your activities. Please accept to view this content.
Ad-hoc announcement of Hornbach Holding AG & Co. KGaA: Hornbach Group plans dividend increase
Ad-hoc announcement: Hornbach Baumarkt AG plans dividend increase