CeoTronics AG

ots Ad hoc-Service: CeoTronics AG CeoTronics AG buys back own shares Shares to be used to pay for acquisitions

The sender is solely responsible for the contents of this announcement. -----------------------------------------------------

    Rödermark (ots Ad hoc-Service) -  

    CeoTronics AG buys back own shares Shares to be used to pay for acquisitions

    Rödermark-based CeoTronics AG - the market leader for communication in difficult environmental conditions - has resolved on May 8, 2000, to buy back up to 100,000 of its own shares. On November 11, 1999, the General Meeting authorized the Managing Board to acquire up to 10% of the shares. The authorization to acquire own shares may also be exercised in several stages. During the first stage, 20,000 CeoTronics shares will be purchased via the stock exchange. The current value for the purchase of these shares may not fall below or exceed the market price by more than 5%. The market price which will apply as defined here will be the average closing price on the Frankfurt Stock Exchange on the last five trading days prior to the acquisition of the shares.

    The Managing Board of CeoTronics AG is utilizing a common international financing instrument. "By exercising the authorization which we have been granted, we intend to earmark these shares for acquisitions in order to be able to react flexibly to any acquisition or investment opportunities. At the current market price, we regard the share buy- back as a good investment for the future", said Chairman of the Managing Board Hans-Dieter Günther.

    Günther explained that the Managing Board's resolution to buy back shares was a good measure to boost shareholder value for CeoTronics shareholders due to the inflow of funds from the recently settled tax dispute. The subsequent reduction in the number of shares on the market could increase earnings per share in the medium term, he added.

         Weitere Informationen / further information

    CeoTronics AG Audio Video Data Communication Adam-Opel-Str. 6 63322 Rödermark Germany

    Tel.:+49 / (0)60 74 - 87 51 - 722 Fax.:+49 / (0)60 74 - 87 51 - 720


    Ende der Mitteilung ----------------------------------------------------- Im Internet recherchierbar:

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

Weitere Meldungen: CeoTronics AG

Das könnte Sie auch interessieren: