Authorization for the Repurchase of own shares persuant to article 71 (1.8) AktG (German Stock Corporation Act) and sale with the exclusion of subscription
Persuant to the resolution of the Annual General Meeting of 13 May 2015, the Board of Directors is authorized to repurchase own shares amounting to up to 10 % of the capital stock (which currently corresponds to up to 1,004,000 shares) by 12 May 2020.
The purchase price per share (excluding transaction expenses) to be paid by the company must not exceed or fall short of the average closing price of the share of the company in the XETRA trading system of the Frankfurt Stock Exchange (or a comparable successor system) for the five trading days preceding the purchase transaction by more than 10 %.
Announcement regarding Share Buy-back
Announcement pursuant to Article 4 para. 4 of the European Regulation (EC) 2273/2003
Karlsruhe, 20 November 2015. init innovation in traffic systems AG repurchased a total of 20,000 shares of init innovation in traffic systems AG (ISIN DE0005759807) at an average price of EUR 18.15 (without additional charges) within the period from 11 November 2015 up to and including 19 November 2015.
The share buy-back was carried out in accordance with the ad hoc release dated 11 November 2015 and was executed via the stock exchange (XETRA) by Commerzbank AG, the financial institution commissioned by init innovation in traffic systems AG.
The number of repurchased shares corresponds to an imputed share of 0.2 % of the capital stock. Pursuant to the resolution of 11 November 2015 the share buy-back is thus completed.
The information will also be available from the following website www.initag.com (see Investor Relations/The init share/Share buy-back).