Grenke AG — Share Issue/Capital Change 2004

Aug 26, 2004

News Details

Corporate | 26 August 2004 11:21

GRENKELEASING: Share Placement Employee Stock Option Programme

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– GRENKELEASING: Share Placement Employee Stock Option Programme As already reported in advance, the GRENKELEASING share has fulfilled the conditions for exercising the employee stock option programme of 2002: an average annual share price increase of more than 15 per cent. The employees may thus exercise 50 per cent of the options (totalling 85,396) by September 9, 2004. The subscription price is EUR 19.64. Our employees are then entitled to exercise a further 25 per cent (42,698 options) in each of the next two years. “Roughly estimated, the subscription price and the tax burden on the benefit in money’s worth require a liquidity contribution of almost 70 per cent of the current stock market price per option/share. Since many employees can only achieve this by immediately selling shares and since a sale on the stock exchange would have had a negative impact on the share price, we were very happy for an institutional investor to take up the shares in an off-market deal”, explained Wolfgang Grenke, Chairman of the Executive Board of GRENKELEASING AG. A total of 75,532 options was executed over the last few days. 51,603 shares thereof were immediately placed at stock market price. Should you have any queries, please contact: GRENKELEASING AG, Neuer Markt 2, 76532 Baden-Baden Renate Hauss Tel: +49-(0)-7221/5007-204 Fax: +49 -(0)-7221/5007-112 E-mail: investor@grenkeleasing.de Internet: http://www.grenkeleasing.de Information on the company and its products is available on the Internet under http://www.grenkeleasing.de. end of message, (c)DGAP 26.08.2004 ——————————————————————————– WKN: 586590; ISIN: DE0005865901; Index: SDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 261121 Aug 04