SAG Solarstroom ends share repurchase programme prematurely

May 21, 2012 - German solar power plant specialist SAG Solarstrom (ETR:SAG) said on Friday it temporarily ended its share buyback programme launched on April 4, 2012 and as of May 18, 2012 it had repurchased 219,788 shares.

The programme was supposed to end on May 23, 2012 but the company considers it has bought a sufficient number of shares. The scheme envisaged a maximum 826,000 shares at prices not falling short or exceeding by more than 10% the mean opening price from the five trading days before the purchase.

The firm added that it will use the stock it bought back for purposes determined by its 2011 Annual General Meeting. Those include payment in kind in relation to mergers and takeovers of firms or purchase of stakes.

The repurchased stock may also be used for sale outside the stock exchange, conversion or option rights or as part of a stock option plan, the group added.

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