RENK Group AG

Transaction in Own Shares • May 13, 2002

News Details

Ad-hoc | 13 May 2002 16:24

Renk AG english

RENK AG continues share repurchase programme Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– With effect from the 14.05.2002, the Supervisory Board of RENK AG has approved the Executive Board’s decision to make use of its authority to acquire the company’s own shares, as granted at the Annual General Meeting of 07.05.2002. Shares representing a maximum of 7.5% of the company’s present share capital, i.e. up to a total of 525,000 shares, are to be repurchased via the stock exchange and/or by way of an offer submitted to all shareholders. This volume will include the 175,120 own shares already in the company’s portfolio. In the event of purchasing shares on the stock exchange, the purchase price (excluding purchase-related expenses) may not be more than 10% higher or lower than the average of the final price paid for RENK AG shares in official trading on the Bavarian Stock Exchange on each of the five preceding days of stock exchange trading (with turnover). In the event of a public purchase offering, the purchase price offered or the limits of any price range offered per share (excluding purchase-related expenses) may not be more than 20% higher or lower than the average of the final price paid for RENK AG shares in official trading on the Bavarian Stock Exchange on each of the ten preceding days of stock ex- change trading (with turnover). A report on the results of this step and a possible continuation of the repurchase programme will be given at the next Annual General Meeting. RENK Aktiengesellschaft The Executive Board end of ad-hoc-announcement (c)DGAP 13.05.2002 ——————————————————————————– WKN: 785000; ISIN: DE0007850000; Index: Listed: Amtlicher Handel in München, Freiverkehr in Frankfurt, Berlin 131624 Mai 02