029 Group SE

Transaction in Own Shares • Jun 7, 2002

News Details

Ad-hoc | 7 June 2002 10:01

Phoenix AG english

Phoenix Aktiengesellschaft announces share repurchase plan Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Phoenix Aktiengesellschaft announces share repurchase plan Management of Phoenix AG in Hamburg, Germany, has decided to up to 10% of the company’s outstanding common stock to be held as treasury shares on the basis of a proposal ratified at the Annual Shareholders’ Meeting of June 5, 2002. Management was authorized to repurchase shares in the amount of up to EUR 3,937,772.54. The price paid for these shares may not exceed the stock market price of Phoenix shares by more that 10% or lie more that 10% below the quoted price. For purposes of the share repurchase plan, the stock market price is taken as the average of the closing prices on the Frankfurt Stock Exchange on the five trading days preceding the day on which the shares are purchased. Phoenix AG is an internationally active company that is involved in the areas of Comfort Systems, Fluid Handling and Conveyor Belt Systems and posted revenues of EUR 1,133.7 million in 2001. end of ad-hoc-announcement (c)DGAP 07.06.2002 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: MDAX Listed: Amtlicher Handel in Frankfurt, Berlin, Hamburg, Düsseldorf und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 071001 Jun 02