Schoeller-Bleckmann Oilfield Equipment AG
EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Notification of the
intended purchase of own shares of the Company pursuant to section 65 para 1 no.
8 and also para 1a and 1b of the Austrian Stock Corporation Act
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
30.04.2010
AD HOC NEWS
Schoeller-Bleckmann Oilfield Equipment AG: Notification of the intended purchase of own shares of the Company pursuant to section 65 para 1 no. 8 and also para 1a and 1b of the Austrian Stock Corporation Act
Ternitz, April 30, 2010. The Management Board of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the Vienna Stock Exchange, decided to issue a share buyback program. The legal authorization of the repurchase of own shares within the time frame of 30 months was obtained at the Annual General Meeting on April 28, 2010 (published on the SBO website at http://info.sbo.at on April 29, 2010).
In total, up to 1.600.000 non-par value bearer shares - which corresponds up to 10% of the company´s equity capital - can be bought back at a price not below EUR 1,- and not above EUR 100,-. The share buyback program will take place between May 6, 2010 and October 27, 2012. The repurchased own shares are used for possible future employee participation schemes or for establishing an option for using the Company's own shares to acquire shareholdings. The Company shall reserve the right to also use the repurchased shares for other purposes that are in line with the authorization granted by the General Meeting. The Company´s own shares are repurchased via the stock exchange.
Any changes as well as the transactions carried out as part of the share buyback programme will be announced on the website of Schoeller-Bleckmann Oilfield Equipment AG under http://info.sbo.at ("Share Buyback Program") in accordance with the Austrian Stock Corporation Act and the relevant publication directive.
end of ad-hoc-announcement ========================================== ====================================== Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in high-precision components for the oilfield service industry. The business focus is on non-magnetic drillstring components for directional drilling. Worldwide, SBO employs a workforce of 1056 as at 31 December 2009 (31 December 2008: 1394), thereof 314 in Ternitz/Austria and 447 in North America (including Mexico).
end of announcement euro adhoc
Further inquiry note:
Gernot Bauer, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 ext 250, fax: ext 501
e-mail: g.bauer@sbo.co.at
Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market