Andritz AG

EANS-News: ANDRITZ AG
Publication of the buyback program by ANDRITZ AG pursuant to § 65 (1a) of the Austrian Stock Corporation Act (AktG) and to § 82 (8 and 9) of the Austrian Stock Exchange Act (BörseG) in conjunction with §§ 2, 4, and 5 of the Austri

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  Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Buybacks

The Executive and Supervisory Boards of ANDRITZ AG resolved on April 13, 2016 to
make use of the authorization pursuant to the resolution by the 109th Annual
General Meeting of the company on March 30, 2016, to buy back shares pursuant to
§ 65(1), line 8 AktG. This resolution authorizes the Executive Board to purchase
a maximum of 10 percent of the share capital of ANDRITZ AG including the shares
the company has already acquired by purchase.
 
This resolution and the buy-back program are thus made public pursuant to § 65
(1a) AktG in conjunction with § 82 (8 and 9) BörseG and pursuant to §§ 2, 4 and
5 of the Austrian Publication Ordinance 2002.

- Date of the authorization resolution by the Annual General Meeting pursuant to
  § 65 (1), line 8 AktG:
  March 30, 2016

- Date and form of publication of the authorization resolution:
  March 30, 2016 via "euro adhoc" and on the company's website at
  www.andritz.com

- Start and expected duration of the buy-back program:
  April 14, 2016 until September 30, 2018

- Type of shares to which the buy-back program refers:
  ANDRITZ AG no-par value shares issued to bearers

- Intended volume (number of shares) of the buy-back program:
  Up to 10,400,000 company shares issued to bearers, which is equal to 10
  percent of the company's share capital

- Lowest and highest amount to be paid per share:
  The lowest amount to be paid in the buy-back must not be less than the
  respective amount represented by each share in the capital stock, and the
  highest amount to be paid in the buy-back must not exceed 10 percent of the
  average, unweighted closing price on the preceding 10 trading days.

- Form of buy-back:
  Purchase through the Stock Exchange, with no takeover offer being submitted on
  the occasion of the buy-back

- Purpose of buy-back:
  Use of treasury shares for purposes pursuant to the authorization resolution
  by the Annual General Meeting on March 30, 2016, in particular the improvement
  of supply and demand for the ANDRITZ share on the Vienna Stock Exchange,
  however excluding trading of treasury shares for the purpose of profit-making.
  No shares will be cancelled on the occasion of the buy-back program. The
  company reserves the right to also use the purchased treasury shares for the
  purpose of a stock option program for employees, senior executives, and
  members of the Executive or Supervisory Boards of the company or one of its
  associated companies if necessary; in this case, the issuer will disclose
  without delay the number and distribution of the stock options to be granted
  pursuant to § 6 (1) of the Austrian Publication Ordinance. Furthermore, the
  company reserves the right to use purchased treasury shares for acquisition of
  companies, workshops, parts thereof, or company stakes. The company reserves
  the right to sell purchased treasury shares again through the Vienna Stock
  Exchange.

- Possible effects of the buy-back program on the listing of the issuing
  company: None

- Extent of the current stock options within the time period of the stock
  options granted or planned under § 65 (1), line 8 AktG as part of stock option
  plans for managers or members of the Executive and Supervisory Boards of the
  issuing company:
  In the event of purchased treasury shares being issued, the issuing company
  will disclose the extent of the stock options without delay pursuant to § 6
  (1) of the Austrian Publication Ordinance.
 
Notice pursuant to § 5 (4) of the Austrian Publication Ordinance 2002: The
details on the transactions conducted as part of this buy-back to be published
pursuant to § 7 of the Austrian Publication Ordinance and any changes to be
published pursuant to § 6 of the Austrian Publication Ordinance will be
published on the ANDRITZ AG Website www.andritz.com.
 
 
Graz, April 13, 2016
The Executive Board of ANDRITZ AG

Further inquiry note:
Dr. Michael Buchbauer
Head of Group Finance, Corporate Communications & Investor Relations
Tel.: +43 316 6902 2979
Fax: +43 316 6902 465
mailto:michael.buchbauer@andritz.com

end of announcement                               euro adhoc 
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company:     Andritz AG
             Stattegger Straße 18
             A-8045 Graz
phone:       +43 (0)316 6902-0
FAX:         +43 (0)316 6902-415
mail:     welcome@andritz.com
WWW:      www.andritz.com
sector:      Machine Manufacturing
ISIN:        AT0000730007
indexes:     WBI, ATX Prime, ATX, ATX five
stockmarkets: official market: Wien 
language:   English
 

Original-Content von: Andritz AG, übermittelt durch news aktuell

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