Ad-hoc | 13 November 2007 15:55
NorCom Information Technology AG / Share Buyback
Release 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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NorCom extending stock buyback program
- A further 3 percent of the Company’s share capital to be acquired
Munich, November 13, 2007 – The Management Board of NorCom Information
Technology AG (Gabelsbergerstraße 4, 80333 Munich, ISIN: DE000 525 0302)
has passed a resolution to extend the stock buyback program. In doing so,
it is acting on the authorization granted by the shareholders at the annual
general meeting on June 14, 2007 to acquire its own shares and will be
observing the 18 month period stipulated in the authorization.
Under the stock buyback program, NorCom acquired a total of three percent
of its share capital between July 2, 2007 and November 8, 2007.
With the extension of the program, a maximum of a further three percent of
the Company’s share capital, equivalent to 318,785 shares, is to be bought
back.
The transaction is being arranged via a bank to ensure compliance with the
safe-harbor provisions contained in the German Securities Trading Act and
EU Regulation 2273/2003 of December 22, 2003.
The stock is being bought back for the purpose specified in the resolution
passed by the shareholders and will be primarily used as an acquisition
currency in connection with corporate mergers and acquisitions.
The buyback is being executed via the stock market, with all transactions
to be reported at NorCom AG’s website on a weekly basis after completion.
End of the ad hoc bulletin
Contact:
NorCom Information Technology AG
Stefanie Zimmermann, Investor Relations/PR
Gabelsbergerstraße 4
80333 München
Telefon: 089-93948-248
E-Mail: aktie@norcom.de
13.11.2007 Financial News transmitted by DGAP
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Language: English
Issuer: NorCom Information Technology AG
Gabelsbergerstraße 4
80333 München
Deutschland
Phone: +49 (0)89 93948-248
Fax: +49 (0)89 93948-111
E-mail: aktie@norcom.de
Internet: www.norcom.de
ISIN: DE0005250302
WKN: 525030
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Stuttgart, München,
Hamburg
End of News DGAP News-Service
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