Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
ots Ad hoc-Service: Ludwig Beck a. Rathauseck <DE0005199905> Ludwig Beck AG starts share buy-back
Munich (ots Ad hoc-Service) -
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Ludwig Beck AG is going ahead with a share buy- back programme. With the approval of the company's Supervisory Board, the Board of Management has decided to make use of the authorization given to it by resolution of the General Meeting of Shareholders on 17 May 2000 for a fixed term ending on 31 October 2001, enabling the acquisition of 336,000 of the company's individual share certificates (representing 10 per cent of the share capital). The buy-back starts today via the stock exchange.
These shares are being acquired for the purposes of resale and, within the framework of Ludwig Beck AG's growth strategy, are intended to be used - as far as possible - as "acquisition currency" for the purchase of companies or the acquisition of interests in them.
The first half of 2000 has again seen continuing sales growth at Ludwig Beck AG, with gross turnover increasing by 1.3 per cent. The half- yearly report containing detailed information on sales and income will be issued on 14 August.
Ludwig Beck AG Investor Relations - Lothar Fiss Tel. +49 89 23691-663, Fax +49 89 23691-600 e-mail: lothar.fiss@ludwigbeck.de
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Original-Content von: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG, übermittelt durch news aktuell