Share Repurchase Program
The Management Board of telegate AG has resolved on November 11, 2010 to execute the Share Repurchase Program (SRP) which has been authorized by the Annual General Meeting on June 9, 2010.
The essential key elements of this SRP are listed below:
- Repurchase: In total up to 10% of telegate’s current share capital, equivalent of up to 2,123,454 telegate shares shall be repurchased
- Realization: By public repurchase offer to all shareholders
- Offering price: Shares will be repurchased for 7.00 €/share. This means this SRP has a total volume of up to EUR 14,864,178.00 (7.00 €/share multiplied with up to 2,123,454 shares)
- Acceptance period: Begins on Wednesday, November 17, 2010 and ends on Wednesday, December 1, 2010 at 5.00 pm
- Allotment: If more than 2,123,454 telegate shares are tendered for sale, they will be given partial (proportional) treatment
- Conditions: The offer is subject to the condition that the Company is tendered shares for sale having a notional par value of a minimum of EUR 750,000
- Acceptance of Offer: telegate shareholders can accept the offer by making a declaration (to their Custodian Institution or to telegate AG) within the acceptance period
- Purchase Price: Is anticipated to be available to the relevant Custodian Institution on the third banking day following expiration of the acceptance period. In the event of a partial (proportional) treatment of declarations of acceptance, payment of the purchase price may be delayed for a few days for processing reasons
- Funding by the Company: The purchase of treasury shares pursuant to this Offer is being financed with cash
- Technical implementation of this offer: telegate AG has engaged biw Bank for Investments and Securities AG (Willich) as its Central Settlement Agent responsible
For more detailed information we refer to the corresponding Ad hoc announcement as well as the Offering document.
