United Internet cancels 6 million treasury shares and reduces capital stock by EUR 6 million to EUR 194 million

(PresseBox) ( Montabaur, )
On January 7, 2013, United Internet AG (ISIN DE0005089031) issued an ad hoc announcement stating it had resolved to launch a new share buyback program. During the course of the share buyback program, the company intends to purchase up to 5,000,000 of its own shares (corresponding to 2.50% of total capital stock of EUR 200,000,000) via the stock exchange. The buyback follows an authorization of the Annual Shareholders' Meeting of May 31, 2012 to buy back shares representing up to 10% of the company's capital stock. The authorization was issued for the period up to November 30, 2013.

As part of this share buyback program, 337,798 treasury shares have since been purchased. Together with 5,662,202 treasury shares from earlier share buyback programs, United Internet now holds a total of 6,000,000 treasury shares (corresponding to 3.00% of total capital stock of EUR 200,000,000).

Based on the authorization granted by the Annual Shareholders' Meeting of United Internet AG on May 31, 2012 regarding the acquisition and use of treasury shares, and with the approval of the Supervisory Board, the Management Board today resolved to cancel these 6,000,000 treasury shares and to reduce the capital stock of United Internet AG by EUR 6 million, from EUR 200,000,000 to EUR 194,000,000. The number of shares issued will decrease correspondingly by 6,000,000, from 200,000,000 shares to 194,000,000 shares. Issued shares will continue to represent a notional share of capital stock of 1 euro each. United Internet AG expects the capital reduction to become effective as of February 6, 2013.

The capital reduction is aimed at optimizing the company's balance sheet and capital structure.

Following the cancellation of these 6,000,000 shares, United Internet no longer holds any treasury shares.

The share buyback program resolved on January 7, 2013 remains in force and up to 4,662,202 company shares can still be bought back via the stock exchange.
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