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 %.
Final Announcement regarding Share Buy-back
Announcement pursuant to Article 4 para. 4 of the European Regulation (EC) 2273/2003
Karlsruhe, 13 March 2015. init innovation in traffic systems AG repurchased a total of 10,000 shares of init innovation in traffic systems AG (ISIN DE0005759807) at an average price of EUR 23.24 (without additional charges) within the period from 2 March 2015 up to and including 13 March 2015.
The share buy-back was carried out in accordance with the ad hoc release dated 2 March 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 0.1 % of the capital stock. Pursuant to the resolution of 2 March 2015 the share buy-back is thus completed.
init decides share buy-back
Karlsruhe, 02/03/2015. The managing board of init innovation in traffic systems AG has decided in accordance with the resolution of the general meeting of 12 May 2010, topic 6 of the agenda to repurchase up to 10,000 own shares (pursuant to § 71 (1.8) AktG). The purchase price per share should not exceed EUR 23.50 (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 share buy-back during the period from 02/03/2015 to 20/03/2015 on the stock exchange.