EANS-Adhoc: Derby Cycle AG approves share repurchase of up to 70,000 shares for employee share programme
17.08.2011 – 21:52
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 17.08.2011 Cloppenburg, August 17, 2011 - On the basis of the authorisation of the EGM of Derby Cycle AG (ISIN DE000A1H6HN1) of January 20, 2011 concerning the purchase of treasury shares, the company's Management and Supervisory boards have approved the repurchase of a total of up to 70,000 treasury shares this year through the XETRA trading exchange. The repurchased shares are to be used for an employee share programme as part of which employees can purchase shares on reduced terms. Members of the expanded management team are also to be given the opportunity to receive part of their fixed salary paid in shares issued on reduced terms. In addition, the Management Board team will receive some of its bonus in the form of shares. There are no plans to utilise the shares for purposes beyond these. The repurchase of the maximum number of shares required for these purposes this year is to be concluded by September 29, 2011. A separate Management Board resolution will be made soon to determine the starting date of the repurchase of the shares. The company will provide information about this resolution. The share purchase is to be processed in compliance with Section 14 Paragraph 2 of the German Securities Trading Act (WpHG) in combination with EC Directive No. 2273/2003 (so-called "Safe Harbour"). Further details will also be announced before the start of the share repurchase. Further information: ISIN: DE000A1H6HN1 German Security Code Number (WKN): A1H6HN Exchange: Regulated Market (Prime Standard), Frankfurt Derby Cycle AG Siemensstrasse 1-3 49661 Cloppenburg, Germany Further inquiry note: cometis AG Unter den Eichen 7 65195 Wiesbaden www.cometis.de Henryk Deter / Tobias Eberle Telefon: +49 (0)611-20 58 55-25 E-Mail: eberle@cometis.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Derby Cycle AG Siemensstr. 1-3 D-49661 Cloppenburg phone: +49-4471-966-238 FAX: +49-4471-966-44820 mail: u.boegershausen@derby-cycle.de WWW: http://www.derby-cycle.de sector: Consumer Goods ISIN: DE000A1H6HN1 indexes: stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English