FUCHS PETROLUB continues share buyback
he Annual General Meeting of FUCHS PETROLUB AG on May 6, 2008 authorized the company to purchase own ordinary and preference shares of up to 10% of the share capital by November 5, 2009.
This entitles the company to continue the buyback of shares started in the last year. Since equity base and business and cash flow development remain strong, the Executive Board has decided, with the consent of the Supervisory Board, to resume the buyback of own shares on May 8, 2008. FUCHS PETROLUB AG intends to acquire up to 5.65% of the share capital by November 5, 2009 on the stock exchange. This represents up to 732,900 ordinary shares and up to 732,900 preference shares. On the basis of the current share price this corresponds to a value of about €100 million.
The share buyback is carried out by a bank, which is independent and not influenced in its decision on when to acquire the company's shares, provided legal regulations and the company's requirements regarding volume and the period of validity of the order are met. In this context, the purchase price per share (excluding ancillary acquisition costs) may neither exceed nor fall below the mean share price (closing auction price of the FUCHS share on the Xetra trading system) on the last three trading days prior to the purchase obligation by more than 10%. The shares are purchased for redemption purposes.
The shares are to be acquired on the stock exchange in Frankfurt and via the XETRA trading system. The buyback takes place in compliance with the Directive (EC) No. 2273/2003 in the version dated December 22, 2003. Regular updates on the progress of the share buyback program are published in the internet at www.fuchs-oil.com (<>Investor Relations<>Share buyback program<>).
Mannheim, May 7, 2008
FUCHS PETROLUB AG
Friesenheimer Str. 17
Phone: (0621) 3802 - 105
The ad hoc-release can also be found on the Internet at www.fuchs-oil.com.
This ad hoc-release contains statements about future development that are based on assumptions and estimates by the management of FUCHS PETROLUB AG. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include changes to the overall economic climate, changes to exchange rates and interest rates and changes in the lubricants industry. FUCHS PETROLUB AG provides no guarantee that future developments and the results actually achieved in the future will agree with the assumptions and estimates set out in this ad hoc-release and assumes no liability for such.