euro adhoc: Capital measures
PALFINGER AG plans to cancel own shares
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
25.02.2008
PALFINGER AG plans to cancel own shares
o The Company currently holds 1,805,000 own shares o The Annual General Meeting will vote on the cancellation of 1,405,000 shares and a subsequent reduction of the share capital
Bergheim, Salzburg, 25 February 2008
PALFINGER AG currently holds 1,805,000 own shares acquired under the share repurchase scheme until 2003. The average share purchase price was EUR 4.60. In order to adjust its capital structure, the Company is now planning to cancel the majority of these shares. It is intended to retain 400,000 shares for the purposes of stock option programmes.
After having obtained the approval of the Supervisory Board, the Management Board of PALFINGER AG will therefore propose to the Annual General Meeting of 26 March 2008 to approve the cancellation of 1,405,000 own shares and a subsequent reduction of the Company's share capital by EUR 1,405,000, from EUR 37,135,000 to EUR 35,730,000, in accordance with sec. 192 para. 3 (2) in conjunction with sec. 192 para. 4 of the Austrian Companies Act (AktG). The Company intends to implement the cancellation of its own shares during 2008.
end of announcement euro adhoc
Further inquiry note:
Hannes Roither, PALFINGER AG
Company Spokesperson
Phone +43 662 46 84-2260
h.roither@palfinger.com
Anton Graf, PALFINGER AG
Investor Relations
Tel. +43 662 46 84-2275
a.graf@palfinger.com
Branche: Machine Manufacturing
ISIN: AT0000758305
WKN: 919964
Index: ATX Prime
Börsen: Wiener Börse AG / official market