Ad Hoc Releases, 2008-01-31, 08:08 PM
ThyssenKrupp to buy back shares up to a total of 3% of capital stock
On the basis of the authorization granted by the Annual General Meeting on January 18, 2008, the Executive Board of ThyssenKrupp AG resolved on January 31, 2008 to purchase on the stock market up to around 15.8 million shares of the Company, representing around 3% of the capital stock, before the authorization expires on July 17, 2009. The purchase price paid per share (excluding incidental purchase costs) 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.
The current ThyssenKrupp share price does not reflect the fair value of the Company and represents an attractive purchase price. At the same time, the buyback together with treasury stock already held in the amount of around 5% of the capital stock will enhance our strategic options for acquisitions and for safeguarding our growth strategy.
The buyback is to be handled independently and uninfluenced by the Company by Commerzbank AG in compliance with the safe-harbor provisions.
We will keep you updated on the progress of the share buyback on our website at http://www.thyssenkrupp.com.