FUCHS PETROLUB starts share buy back program
On May 2, 2007 the General Assembly of FUCHS PETROLUB AG authorized the company to buy back up to 10% of its ordinary and preference shares by November 1, 2008.
Due to the unchanged robust equity position and the positive profit and cash flow development, which has continued into the first quarter of 2007, the Executive Board of the company has decided, with the approval of the Supervisory Board, to start with the share buy back program on May 10, 2007. By November 1, 2008 FUCHS PETROLUB AG will buy back up to 10% of its authorized capital, i.e. up to 1,296,900 ordinary and up to 1,296,900 preference shares via the stock exchange. At the current market price of the shares this indicates an amount of about euros 170 million.
A bank will lead and execute the share buy back program independently. The bank will purchase the shares and will not be influenced by Fuchs Petrolub AG. It will be bound by the legal requirements and the demands of the company with respect to volume and the duration of the purchase order. In this context the purchase price per share (without any transaction costs) may neither exceed nor undercut 10% of the average of the share price (price of the final transaction of the FUCHS share on XETRA) during the last three trading days before the actual trading takes place. The shares are purchased for redemption only.
The shares shall be bought at the Frankfurt stock exchange, the Stuttgart stock exchange and on XETRA. The buy back will be in line with the regulation (EG) Nr. 2273/2003 of December 22, 2003. Regularly updated information of the progress of the share buy back program can be found on the internet under www.fuchs-oil.de (<> investor Relations <> Share buy back).
Mannheim, May 8, 2007
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.de.
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.