init decides share buy-back
Karlsruhe, November 11, 2013. The managing board of init innovation in traffic systems AG has decided in accordance with the resolution of the general meeting of May 12, 2010, topic 6 of the agenda to repurchase up to 40,000 own shares (pursuant to § 71 (1.8) AktG). The purchase price per share should not exceed 23.80 EUR (without additional charges).
The repurchased shares are to be used for existing and future employee share schemes, incentive schemes for members of the managing board and managing directors, as acquisition currency and/or for cash to third party.
It is planned to transact the buy-back during the period from 11 November 2013 to 20 December 2013.
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 May 12, 2010, 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 May 11, 2015.
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 %.