Transaction in Own Shares • Sep 7, 2009
Transaction in Own Shares
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News Details
Ad-hoc | 7 September 2009 18:43
ZhongDe Waste Technology AG: Share Buy-Back
ZhongDe Waste Technology AG / Share Buyback
07.09.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
The Management Board of ZhongDe Waste Technology AG has resolved to
repurchase up to 400,000 ordinary shares of no par value each having a
notional amount of the share capital of EUR 1.00 of the Company.
The Annual General Meeting as of 31 July 2009 has authorized the Company to
acquire ordinary shares in the amount of up to 10 percent of the company's
current share capital. The share buy-back will be implemented starting not
before 8 September 2009 and the term of the authorisation expires December
31st, 2010.
The purpose of the share buy-back is to enable the Company to offer
treasury shares to third parties as consideration for acquisitions of other
companies or participation in other companies or for joint ventures or
co-operations with other companies. The availability of own shares
increases the Company's flexibility. Further, the offering of shares in
ZhongDe Waste Technology AG as consideration may turn out to be feasible to
build up a long-term relationship between the Company and potential
investors especially in Asia. The shareholders shall be excluded from
subscription of treasury shares.
In case of an acquisition via the stock exchange, the price per share paid
by the Company (excluding incidental costs of acquisition) must be within a
range of 10 per cent higher or lower than the opening price at the
Frankfurt Stock Exchange's Xetra trading system.
Not more than 25 per cent of the average daily turnover of the ZhongDe
Waste Technology AG shares will be acquired at the respective stock
exchange per day. The average daily share turnover is calculated on the
basis of the average daily trading volume in the relevant trading segment
during the last 20 trading days before the date of purchase.The share
buy-back will be implemented through a financial institution, which will
act independently and without influence by ZhongDe Waste Technology AG on
when to repurchase stock.
William Jiuhua Wang
Executive Director and CFO
E-Mail: [email protected]
Li Zhong (Linda)
Investor Relations Manager
Stadthausbrücke 1-3
20355 Hamburg
Tel: +49 40 37644 756
Fax: +49 40 37644 500
E-Mail: [email protected]
07.09.2009 Financial News transmitted by DGAP
Language: English
Company: ZhongDe Waste Technology AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 745
Fax: +49 40 37644 500
E-mail: [email protected]
Internet: www.zhongdetech.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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