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17:56 | 21.10.2008
DJ DGAP-Adhoc: HOCHTIEF Aktiengesellschaft: HOCHTIEF decides to conduct Share Buyback
DJ DGAP-Adhoc: HOCHTIEF Aktiengesellschaft: HOCHTIEF decides to conduct Share Buyback
HOCHTIEF Aktiengesellschaft / Share Buyback
21.10.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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1. Confirmation of Forecast for the Business Year 2008
Given the sustained very positive development of HOCHTIEF's business, the
Group reaffirms its forecast for its business year 2008. HOCHTIEF continues
to expect new orders and order backlog at the same high levels as in the
previous year, a year-on-year increase in Group sales and pre-tax profit,
and a consolidated net profit above the 2007 figure of EUR 140,7 million.
2. HOCHTIEF decides to conduct Share Buyback
The Executive Board of HOCHTIEF Aktiengesellschaft decided to start a share
buyback programme. Up to 3,468,000 Shares in HOCHTIEF Aktiengesellschaft
with a value of up to EUR 138,720,000 are to be bought back by HOCHTIEF
Aktiengesellschaft itself. HOCHTIEF Pension Trust e.V. informed the
Executive Board of HOCHTIEF Aktiengesellschaft that HOCHTIEF Pension Trust
e.V. intends to purchase up to 3,500,000 Shares in HOCHTIEF
Aktiengesellschaft with a value of up to EUR 140,000,000. The Executive Board
of HOCHTIEF Aktiengesellschaft decided to approve this share buyback
programme of HOCHTIEF Pension Trust e.V. The purchase of the shares by
HOCHTIEF Aktiengesellschaft and HOCHTIEF Pension Trust e.V. shall be
conducted via the stock exchange. 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 8, 2008.
The share buyback programme is based on the authorization of the Annual
General Meeting of May 8, 2008, to launch a share buyback programme for
shares in the amount of up to 10% of the company's share capital until
November 7, 2009. The purchase price per share (excluding ancillary
purchase costs) may not be 10 % above or below the average closing price of
the shares in HOCHTIEF Aktiengesellschaft quoted on the last ten stock
market trading days prior to the purchase in the XETRA trading system on
the Frankfurt Stock Exchange.
The buyback will be carried out in the period between October 22, 2008 and
March 31, 2009 by the banks commissioned by the Company and HOCHTIEF
Pension Trust e.V. and in accordance with Art. 4 to 6 of the Directive (EC)
No. 2273/2003 of the Commission of December 22, 2003.
Contact:
elmar.sauter@hochtief.de
21.10.2008 Financial News transmitted by DGAP
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Language: English
Issuer: HOCHTIEF Aktiengesellschaft
Opernplatz 2
45128 Essen
Deutschland
Phone: +49 (0)201 824-1833
Fax: +49 (0)201 824-2750
E-mail: investor-relations@hochtief.de
Internet: www.hochtief.de
ISIN: DE0006070006
WKN: 607000
Indices: MDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Hamburg, Düsseldorf; Freiverkehr in Hannover,
Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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(END) Dow Jones Newswires October 21, 2008 11:56 ET (15:56 GMT) |
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