Ad-hoc-News
Release of an Ad hoc announcement according to Sec. 15, German Securities Trading Act (WpHG) / Share Buy-Back.
Hamburg, 7th September 2009
DGAP-Adhoc: ZhongDe Waste Technology AG: Share Buy-Back
The Management Board of ZhongDe Waste Technology AG has resolved to repurchase up to 400,000 ordinary shares of no par value each having a notional amount of the share capital of EUR 1.00 of the Company.
The Annual General Meeting as of 31 July 2009 has authorized the Company to acquire ordinary shares in the amount of up to 10 percent of the company's current share capital. The share buy-back will be implemented starting not before 8 September 2009 and the term of the authorisation expires December 31st, 2010.
The purpose of the share buy-back is to enable the Company to offer treasury shares to third parties as consideration for acquisitions of other companies or participation in other companies or for joint ventures or co-operations with other companies. The availability of own shares increases the Company's flexibility. Further, the offering of shares in ZhongDe Waste Technology AG as consideration may turn out to be feasible to build up a long-term relationship between the Company and potential investors especially in Asia. The shareholders shall be excluded from subscription of treasury shares.
In case of an acquisition via the stock exchange, the price per share paid by the Company (excluding incidental costs of acquisition) must be within a range of 10 per cent higher or lower than the opening price at the Frankfurt Stock Exchange's Xetra trading system.
Not more than 25 per cent of the average daily turnover of the ZhongDe Waste Technology AG shares will be acquired at the respective stock exchange per day. The average daily share turnover is calculated on the basis of the average daily trading volume in the relevant trading segment during the last 20 trading days before the date of purchase.The share buy-back will be implemented through a financial institution, which will act independently and without influence by ZhongDe Waste Technology AG on when to repurchase stock.
http://www.zhongde-ag.com/investor_relations/aktienrueckkaufprogramm.html
Contact
William Jiuhua Wang
Executive Director and CFO
E-Mail: William.jw@zhongdetech.com
Li Zhong (Linda)
Investor Relations Manager
Stadthausbrücke 1-3
20355 Hamburg
Tel: +49 40 37644 756
Fax: +49 40 37644 500
E-Mail: li.zhong@zhongde-ag.de
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