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08.06.2000 – 07:32


ots Ad hoc-Service: HAWESKO Holding AG Share buyback to start

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    Hamburg (ots Ad hoc-Service) -    

    The board of management of the wine trading group Hawesko Holding AG (HAWG.F 604270) announced that it would exercise the authorization granted by the annual general meeting on 3 June 1999 to begin immediately with the buyback of the company's own shares. The board of management can repurchase up to 440,000 of the company's own shares within the framework of this authorization. However, it will not use the full scope of this authorization in the first step. The company will buy back its shares through the stock exchange, whereby in accordance with the authorization the purchase price per share may not fall short of or exceed the average closing price of the Hawesko share for the five preceding trading days on the Frankfurt securities exchange by more than 5 %. This share buyback provides the board of management with greater flexibility in the pursuance of future acquisitions because it will then be able to use Hawesko shares as currency for acquisitions.

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