Basler AG: Resolution adopted about buying additional own shares
Ahrensburg, (PresseBox) - Basler AG will buy back additional bearer shares with an equivalent value of up to € 1 million via the stock market. The Management Board of the company together with the Supervisory Board has decided today to take this action. The buyback will be carried out starting on March 16, 2012, extending the share buyback program started on September 22, 2011. The general meeting of May 18, 2010, authorized the company to buy back own shares amounting to a total of up to 10 % of the share capital of the corporation existing at the time the resolution was adopted. The authorization is approved until May 18, 2015. The shares can be used for all purposes provided for in the authorization of the general meeting of May 18, 2010. This includes among others using the shares as consideration related to the acquisition of companies. Basler AG wants to make use of the currently favorable share value and have available the package of shares to be acquired for the above purpose. When acquiring own shares via the stock exchange, the price paid per share (without considering incidental purchase costs) must not differ by more than 10 % from the share price of the company for shares with same conditions as determined on the trading day by the opening auction day for XETRA trade on the Frankfurt stock exchange. The buyback will be carried out through a credit institution that will decide upon the time of the individual buybacks independently of Basler AG according to Commission Regulation (EC) No 2273/2003 of December 22, 2003. The relevant average daily turnover of shares is calculated on the basis of the average daily trading volume during the month of February of 2012.