Capital market-relevant press releases, 2006-07-03, 08:07 PM
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 authorization 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 independent 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.