Muehlhan AG is resuming its share-buyback program. The company plans to acquire up to €1 million of treasury shares over the next 12 months. The shares repurchased under the authorization issued by the Annual General Meeting on 18 May 2010 will be used to support the objectives indicated in the authorization:
- Share-based compensation of company employees
- Use of shares to pay for acquisitions
The authorization limits the share buyback to a maximum pro-rata amount of the share capital of €1,950,000.00, equivalent to 10% of the existing share capital as of that date of €19,500,000.00. The authorization may be exercised directly by the company or by third parties appointed by the company in whole or in several partial amounts including, in the latter case, on multiple occasions, within the aforementioned limit.