Heidelberg Management Board Decides to Buy Back up to Five Percent of the Company’s Shares
HEIDELBERG, GERMANY—10/31/2006—The Management Board of Heidelberger Druckmaschinen Aktiengesellschaft (Heidelberg) today decided to initiate a second share buyback program. Between November 7, 2006 and January 19, 2008 at the latest, the company intends to acquire shares amounting to up to five percent of its capital stock (up to 4,152,535 shares).
The repurchased shares are earmarked for capital retirement and employee share participation programs. Additionally, they may be offered for purchase to individuals who either are or were employed in the company or an enterprise affiliated with the company.
General conditions of the share buyback
Shares will be repurchased exclusively through the stock exchange. The price per share (excluding incidental acquisition expenses) paid by Heidelberger Druckmaschinen Aktiengesellschaft must in this program not deviate by more than ten percent in either direction from the share’s average closing price on the XETRA or an equivalent successor system on the Frankfurt Stock Exchange during the last five trading days prior to entering into the purchase commitment.
Heidelberger Druckmaschinen Aktiengesellschaft has instructed the financial institution repurchasing the shares to comply with the terms of trade detailed in Article 5 of Commission Regulation (EC) No. 2273/2003 of December 22, 2003. In particular, it may not buy back more than 25 percent of the average trading volume for a given day. The company will not acquire shares at a price above that of the last independent transaction or (if this is higher) above that of the highest current independent bid price at the trading platform where the buyback is made.
Heidelberger Druckmaschinen Aktiengesellschaft will provide regular updates on the transactions and the progress of the share buyback program at www.heidelberg.com. Initial share buyback program was concluded in July 2006
In an initial share buyback program the company had already repurchased 4,295,424 shares (five percent of the capital stock) during the period from November 9, 2005 to July 26, 2006 totaling EUR 150,349,212.29.
On March 31, 2006, a total of 2,857,777 shares were withdrawn. The remaining shares were already partly used for employee share participation programs. At present the Company still holds 1,384,424 of its own shares.