DJ HUGIN NEWS/Share buy-back tender offer of TAKKT AG: Acceptance period completed - allocation quota approx. 14.5 percent
Stuttgart, 13 February 2009. Based on the voluntary fixed price public share buy-back tender offer by TAKKT AG, which expired on 10 February 2009 at 24:00 hours (CET), a total number of 50,107,192 shares have been tendered. The offer applied to up to 7,290,000 TAKKT shares corresponding to up to 10 percent of TAKKT AG's share capital. As a total number of 50,107,192 TAKKT shares have been tendered during the acceptance period, the declarations of acceptance have been considered on a pro-rata basis, in accordance with section 3.5 of the offer document. The calculated pro-rata allocation quota applicable to the declarations of acceptance represents, after rounding to one decimal place, 14.5 percent. TAKKT is extremely satisfied with the results of the public tender offer. The acquisition of its own shares has a positive effect on the balance sheet structure with regards to the total cost of capital. The high and stable free cash flow generation - one of the strengths of the TAKKT business model - will allow the company taking advantage of a higher financial leverage through an increased debt structure i.e. a lower equity ratio. In addition, the Group will maintain full financial flexibility for future external and internal growth after this tender offer and a further planned special dividend payment. The planned cancellation of the repurchased shares will also result in positive effects on the future earnings and the cash flow per share. Furthermore the free float share (currently 27.3 percent) will increase after the cancellation of the shares to more than 29 percent, as the major shareholder Franz Haniel & Cie. GmbH, Duisburg, has also participated in this offer. Contacts: Georg Gayer, Vorstandsvorsitzender Phone +49 711 34658-201 Dr. Florian Funck, Vorstand Controlling und Phone +49 711 Finanzen 34658-207 E-Mail: firstname.lastname@example.org This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement. http://hugin.info/131631/R/1290455/291051.pdf Copyright © Hugin AS 2009. All rights reserved.
(END) Dow Jones Newswires
February 16, 2009 04:01 ET (09:01 GMT)