PresseBox
Press release BoxID: 312731 (United Internet AG)
  • United Internet AG
  • Elgendorfer Straße 57
  • 56410 Montabaur
  • http://www.unitedinternet.de
  • Contact person
  • Marcus Schaps
  • +49 (2602) 96-1076

United Internet cancels approx. 11.6 million treasury shares and reduces capital stock to EUR 240 million

(PresseBox) (Montabaur, ) On the basis of an authorization granted by the Annual Shareholders' Meeting of United Internet AG (ISIN DE0005089031) and with the approval of the Supervisory Board, the Management Board today resolved to cancel a total of 11,625,656 shares from the company's stock of treasury shares, purchased in the course of share buyback programs, and thus reduce the capital stock of United Internet AG to EUR 240 million by means of a simplified capital reduction process. The capital reduction is aimed at optimizing the company's balance sheet and capital structure.

In execution of this resolution, 11,625,656 registered nopar value shares with a notional share of capital stock of 1 euro each will be cancelled. As a consequence, capital stock will decrease from EUR 251,625,656 at present to EUR 240,000,000 and the number of issued shares will fall correspondingly from 251,625,656 to 240,000,000 shares. Issued shares 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 December 21, 2009.