Ad-hoc | 24 September 2009 10:22
Fair Value REIT-AG / Share Buyback
24.09.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Munich, September 24, 2009 - Fair Value REIT-AG (German Securities Code
(WKN) A0MW97, ISIN DE000A0MW975) has announced that its Managing Board
resolved to start a share buy-back program on September 24, 2009. The
Managing Board is thus utilizing the authorization granted by the General
Meeting on May 29, 2009 to acquire treasury shares within the meaning of
Section 71 (1) No. 8 of the AktG. The share buy-back starts on September
25, 2009 and runs through to January 29, 2010. A total of up to 100,000
shares or 1% of the company's share capital are to be acquired in the
course of the program.
The share buy-back will, in particular, serve to set up an acquisition
currency to finance Fair Value REIT-AG's further growth. The acquired
treasury shares are to be used, in particular, as compensation as part of
business mergers or to acquire participations in real estate partnerships,
and as compensation to acquire real estate.
The share buy-back will be performed in accordance with the Aktiengesetz
(AktG - German Public Limited Companies Act) and the
Wertpapierhandelsgesetz (WpHG - German Securities Trading Act), in
particular Sections 14 (2) and 20a (3) of the WpHG in connection with the
provisions of the directive (EU) No. 2273/2003 by the European Commission.
According to the resolution of the Annual General Meeting on May 29, 2009,
the share price will be no more than 10% greater or less than the
arithmetic average of the closing prices of shares of the company in Xetra
trading on Frankfurt Stock Exchange during the respective proceeding ten
stock market trading days. As a result of the shares restricted liquidity,
Fair Value REIT-AG is expected to exceed the threshold defined in Directive
(EU) No. 2273/2003 of a maximum of 25% of the average daily trading
turnover. However, on any one day the company will acquire a maximum of 50%
of the average daily share turnover on the stock exchange on which the
respective purchase is made. The average share turnover is the trading
volume in the month prior to publication of the share buy-back program. The
shares are acquired exclusively via the stock exchange. The share buy-back
will be processed by a bank, while observing standard market practices and
independent of and not influenced by the company. The program can be
discontinued at any time to the extent required and legally permissible.
Information on the acquisitions will be published in good time on the
company's web site at www.fvreit.de in the Investor Relations section.
< End of ad-hoc disclosure >
Contact
Investor & Media Relations
cometis AG
Dirk Stauer
Phone: +49(0)611 - 205855-22
Fax: +49(0)611 - 205855-66
E-mail: stauer@cometis.de
24.09.2009 Financial News transmitted by DGAP
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Language: English
Company: Fair Value REIT-AG
Leopoldstraße 244
80807 München
Deutschland
Phone: +49 (0)89 9292 815-01
Fax: +49 (0)89 9292 815-15
E-mail: info@fair-value-reit.de
Internet: www.fair-value-reit.de
ISIN: DE000A0MW975
WKN: A0MW97
Indices: RX REIT All Share Index, RX REIT Index
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in München, Stuttgart
End of News DGAP News-Service
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