Share Buyback based on the Authorization of the 2007 Annual Meeting
Between August 29, 2007 and March 28, 2008, a total of 99,768,314 shares representing approx. 267 million of the share capital have been bought back. This is equivalent to nearly 10 % of the share capital. A total amount of approximately €6.2 billion has been applied for this purpose. These shares were cancelled in three tranches, the last cancellation was executed by midnight of April 3, 2008.
The share buyback was managed by a bank that made its decisions on the timing of each share purchase independently and without being influenced by the company.
The table below shows the development of the buyback program, which was based on the authorization of the 2007 Annual Meeting:
|
Share Buyback based on the Authorization of the 2007 Annual Meeting | |||
|
Period |
No. of Shares Acquired |
Average Price (EUR) |
Purchased Volume (EUR) |
|
Total |
99,768,314 |
62.11 |
6,196,752,952.16 |
|
March, 2008 |
27,622,866 |
53.62 |
1,481,249,244.31 |
|
February 2008 |
22,185,448 |
55.69 |
1,235,524,406.33 |
|
December 2007 |
4,384,000 |
69.10 |
302,953,032.70 |
|
November 2007 |
16,366,000 |
69.05 |
1,130,005,849.60 |
|
October 2007 |
13,445,000 |
74.29 |
998,821,360.14 |
|
September 2007 |
14,390,000 |
66.72 |
960,165,710.94 |
|
August 2007 |
1,375,000 |
64.02 |
88,033,348.15 |
The figures on a day to day basis are provided here:
|
Date |
No. of shares cancelled |
|
|
in total |
99,768,314 |
|
|
March 28, 2008 |
49,808,314 |
|
|
in total, 2007 |
49,960,000 |
|
|
Dec 20, 2007 |
36,725,000 |
|
|
Sep 29, 2007 |
13,235,000 |
At the Annual Meeting on April 9, 2008, the shareholders granted the Board of Management new authorization to acquire additional shares in a volume of up to 10 % of the existing share capital. You will find our reporting on this new share buyback program here.
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