Ad-hoc | 24 March 2003 17:15

voestalpine AG english

voestalpine increases portion of shares held by employees to 6.5 percent Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– voestalpine increases portion of shares held by employees to 6.5 percent Agreement on second stage signed employees private foundation acquires 990,000 shares, which is 2.5 percent of the outstanding shares. Linz (voestalpine) Today, Monday, the company and the works council of voestalpine concluded an agreement on the second tranche of the employee share ownership plan. Pursuant to the agreement, the employees at the Austrian locations acquire another 990,000 shares, which corresponds to 2.5 percent of the outstanding shares. The purchase price corresponds to the repurchase costs in the context of the share repurchase program launched in September 2002 and is EUR 24.50 per share. Within the framework of the opening clause of the collective agreement, the employees agree that 0.5 percent of their wages or salaries are retained. This amount is then invested in voestalpine shares through the employees private foundation. A total of 13,500 employees at the Austrian locations participate in this employee share ownership plan. Following implementation of this second stage, about 6.5 percent of the voestalpine shares will be held by the companys employees. Linz, 24 March 2003 end of ad-hoc-announcement (c)DGAP 24.03.2003 ——————————————————————————– WKN: 093750; ISIN: AT0000937503; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München, Stuttgart; London 241715 Mär 03