Capital market-relevant press releases, 2008-07-14, 09:18 PM
ThyssenKrupp to buy back shares up to a total of 2% 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 July 14, 2008 to purchase on the stock market up to 10,500,000 shares of the Company, representing around 2% of the capital stock. 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 buyback is to be handled independently and uninfluenced by the Company by an appointed bank in compliance with the safe-harbor provisions.
On completion of the buyback, together with the shares repurchased in summer 2006 and spring 2008 ThyssenKrupp AG will hold around 10% of the Company’s shares which it can use as an acquisition currency, in particular for strategic acquisitions.