Ad hoc statement, Jul. 03, 2006
ThyssenKrupp to buy back shares up to a total of 5% of capital stock
On the basis of the authorization granted by the Annual General Meeting on January 27, 2006, the Executive Board of ThyssenKrupp AG resolved on July 3, 2006 to purchase up to 25,724,452 shares of the Company, representing 5% of the capital stock, before the authori-zation expires.
ThyssenKrupp's strong current performance and its ability to achieve sustainable high cash flows make it possible to carry out the share buyback to support the Group's growth strategy. Against this background, the shares to be repurchased could be used as acquisition currency and to safeguard the growth strategy.
The buyback is to be handled by Commerzbank AG. It is planned that the bank will take inde-pendent decisions on the timing of the purchase - to take place exclusively on the open market - without consulting the Company. The purchase price paid per share may not be more than 5% higher or lower than the Company's share price determined by the opening auction in the Xetra trading system on the day of trading.
All transactions will be announced on completion in weekly bulletins on the website of ThyssenKrupp AG.
With sales of 42.1 billion euros and 184,000 employees in over 70 countries, ThyssenKrupp is one of the world's major technology groups and occupies excellent positions on the international markets. The three main business areas of steel, capital goods and services, organized in six segments - Steel, Stainless, Automotive, Technologies, Elevator and Services - mark out the Group's areas of competence.
Contact:
Dr. Jürgen Claassen
Communications and Strategy
ThyssenKrupp AG
Phone: +49 (211) 824-36002
Fax: +49 (211) 824-36005
E-mail: press@thyssenkrupp.com
Internet: www.thyssenkrupp.com
Published on Jul. 03, 2006
