UK Regulatory | 19 June 2008 17:16
BASF SE / Miscellaneous
Release of a UK Regulatory Announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------
- BASF plans to repurchase shares for €3 billion until mid-2010
- €3 billion share buyback program for 2007 and 2008 completed ahead of
schedule
Ludwigshafen, Germany – June 19, 2008 – The Board of Executive Directors of
BASF SE has decided to start a new share buyback program and plans to buy
back shares for €3 billion up to mid-2010. The share repurchase can start
immediately based on the authorization by the Annual Meeting held on April
24, 2008.
The aim of buying back shares is to optimize BASF’s capital structure and
to increase earnings per share. The shares will be canceled, thus reducing
the share capital of BASF SE accordingly.
BASF completed its €3 billion share buyback program for 2007 and 2008 ahead
of schedule. This program was announced in February 2007. From the
beginning of 2007 until June 17, 2008 BASF bought back shares for €3
billion. A total of approximately 33.7 million shares were repurchased at
an average price of €88.91. This corresponds to 7.1 percent of BASF SE’s
current share capital. The repurchased shares have already been canceled or
will be canceled in 2008.
Contact:
Michael Grabicki
Phone: +49 621 60-99938
Fax: +49 621 60-92693
michael.grabicki@basf.com
19.06.2008 Financial News transmitted by DGAP
----------------------------------------------------------------------
Language: English
Issuer: BASF SE
Carl-Bosch-Straße 38
67056 Ludwigshafen
Deutschland
Phone: +49 (0)621 60-0
Fax: +49 (0)621 60-4 25 25
E-mail: info.service@basf.com
Internet: www.basf.com
ISIN: DE0005151005, DE000A0JRFB0, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0JRFA2, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0JQF26, Börse Dublin, Frankfurter Wertpapierbörse, , DE000A0EUB86, Frankfurter Wertpapierbörse, , DE0008846718, Frankfurter Wertpapierbörse,
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime
Standard), Hannover, Düsseldorf, Stuttgart, München,
Hamburg; Terminbörse EUREX; Foreign Exchange(s) London,
SWX
Category Code: MSC
LSE Ticker:
Sequence Number: 2
Time of Receipt: Jun 19, 2008 17:16:13
End of News DGAP News-Service
---------------------------------------------------------------------------