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Board of Management of HORNBACH-Baumarkt-AG resolves share buyback to facilitate issue of shares to employees
Bornheim, September 1, 2008. The Board of Management of Hornbach-Baumarkt-AG, based in Bornheim/Pfalz, ISIN DE0006084403, today resolved to acquire up to 20,000 own shares pursuant to Section 71 (1) No. 2 of the German Stock Corporation Act (AktG). The shares are to be acquired already in preparation for the annual issue of shares to employees scheduled to take place at the end of 2008.
The buyback of shares on the basis of this management board resolution is to be undertaken in accordance with the safe harbor regulations set out in Section 20a (3) of the German Securities Trading Act (WpHG) in conjunction with Regulation (EC) No. 2273/2003 of the European Commission dated December 22, 2003.
The buyback of shares will begin on September 2, 2008 and will run for a limited period expiring on December 31, 2008. Within this period, a maximum of 20,000 own shares are to be acquired via Xetra trading or via floor trading at the Frankfurt Stock Exchange. The purchase price to be paid by the company per share (excluding acquisition expenses) may not exceed or fall short of the stock market price by more than 10%. The stock market price shall be taken in this respect to be the average of the closing prices in Xetra trading at the Frankfurt Stock Exchange on the five stock market trading days immediately preceding the respective acquisition. Moreover, the shares will not be acquired at a price in excess of that determined pursuant to Article 5 (1) of Regulation (EC) No. 2273/2003 of the European Commission dated 22 December 2003.
The buyback of shares will be undertaken in such a way as to protect the interests of the market, with the procedure being managed by a bank which will take its decisions concerning the timing of the acquisition of own shares independently of and without being influenced by the company.
The volume of shares thereby bought back may not exceed 25% of the respective average daily turnover in Xetra trading or in floor trading on the Frankfurt Stock Exchange. The average daily turnover in the respective trading segment is to be determined on the basis of average daily trading volumes on the 20 stock market trading days preceding the respective purchase of shares.
Pursuant to Article 4 (4) of Regulation (EC) No. 2273/2003 of the European Commission dated 22 December 2003, the transactions thereby undertaken will be published in the "Investor Relations/Share buyback" section of the investor relations internet platform at http://www.hornbach-gruppe.de/investor/de/php/cont_investor_buyback.php.
Bornheim/Pfalz, September 1, 2008
HORNBACH-Baumarkt-AG
The Board of Management
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