BWT AG
Ad hoc-Service: BWT AG BWT share split 10:1
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BWT approves
Share split 10:1 – Dividend increase – Buyback of own
shares
Share split ratio of 10:1
At BWT’s 10th Annual General Meeting on 25 May 2000, the
Executive Board’s proposal to split the shares at a ratio
of 10:1 (the previous number of shares, 1,650,000, will
be replaced with 16,500,000 shares) was accepted. In
this way, BWT has responded to a wish expressed by many
investors for some time. As a result of the split,
liquidity will be improved and therefore the shares will
become more easily tradeable. This will result in
increased interest in the shares to new shareholders, in
particular private investors and international
institutional shareholders.
From a technical point of view, the split will be carried
out by means of an increase in the share capital from
reserves of currently EUR 11,991,017.63 by EUR
4,508,982.37 to EUR 16,500,000 utilising a conversion
from the capital reserve. Equity will consist of a total
of EUR 16,500,000 with a nominal value of EUR 1.
The share split will not cause any changes to the rights
of shareholders or the percentage equity shareholdings.
The adjustments at the stock exchange and to portfolios
will be carried out at BWT’s expense and completed during
the next few weeks.
Dividend increase to EUR 2.11 per share
The Annual General Meeting also agreed to the Executive
Board’s planned proposal to increase the dividend from
EUR 2.03 to EUR 2.11 per share (amounts before the
split). In total there will be a distribution of EUR
3,481,500 to shareholders on 5 June 2000. The ex-
dividend date is the 31st of May 2000.
Management Board’s Authorisation for the purchase own
shares
The Annual General Meeting has given its authorisation on
principle for the purchase of own shares according to the
Share Repurchase Law and the Stock Exchange Law. With
reference to these, the Executive Board has authorisation
within 18 months for the repurchase of up to 10% of the
shares outstanding at a price of at least EUR 300.00 and
of no more than EUR 600.00 (EUR 30 and EUR 60 after the
split, respectively). Details of the applicable
repurchase programmes and their duration are to be
published in good time and in detail.
For further information, please contact:
BWT Aktiengesellschaft
Walter-Simmer-Straße 4, A-5310 Mondsee
Telephone +43 6232 5011 1110, Telefax +43 6232 5011 1191
Email: office@bwt.at
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