EANS-News: SMT Scharf AG launches new share purchase plan for employees
- Employees to participate in the company´s success - Buy-back of up to 39,000 shares planned for Q2 2009
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
shares/share purchase plan for employees
Hamm (euro adhoc) - April 21, 2009 - SMT Scharf AG (German Securities Code (WKN) 575198, ISIN DE0005751986), technology and world market leader for rail-bound railway systems for the mining sector, has resolved to put a second share purchase plan for employees in place to allow them to participate in the company´s success. As a result, the company will acquire own shares via an affiliated company in accordance with Section 71 (1) No. 2 of the Aktiengesetz (German Public Limited Companies Act), and then offer these for sale to its employees at a reduced price.
SMT Scharf is scheduled to acquire up to 39,000 shares in April and May, and to publish this on the company´s web site at www.smtscharf.com in good time. The implementation of the program, in particular the maximum purchase price for the shares, will be in line with the provisions of Regulation (EC) No. 2273/2003. Thus, the company will acquire the shares at a price equivalent to, at most, the last independently concluded transaction on the stock exchange or the current asked price. On a single day, SMT Scharf will purchase at most 25 % of the average daily share turnover for the past month.
"Our employees work hard - and they are a key pillar of our company. We aim to allow them to participate even more in our company´s success by setting up this second share purchase plan," commented Dr. Friedrich Trautwein, SMT Scharf AG's CEO. "In doing so we also aim to increase our employees´ identification with our company and its future growth."
Company profile
The SMT Scharf Group develops, builds and maintains rail-bound railway systems for mining and use in tunnels. The trains are used all over the world, primarily in hard coal mines, gold mines and in underground mining for platinum, diamonds, copper and nickel. They are used to transport material and personnel with working loads of up to 35t. Rail-bound trains are the only means of transport that can be used underground on branching lines to cope with inclines of more than 13 degrees. The SMT Scharf Group has subsidiaries in Germany, Poland, South Africa, China and Russia, as well as agencies around the world. The railways developed by SMT Scharf are characterized, above all, by high-performance engines, high working loads, high speed and low operating and maintenance costs. SMT Scharf records more than 70% of its revenues on high-growth foreign markets, such as Russia, China and South Africa. The replacement parts and repairs business constitutes around 50% of revenues. The advances in exploitation of resources make underground conditions increasingly difficult which in turn requires more high technology transport solutions in mining. The total market for underground transport technology comprises around EUR 5 billion to EUR 7 billion per year according to company estimates. SMT Scharf AG has been listed in the Prime Standard (regulated market) of the Frankfurt Stock Exchange since April 11, 2007.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Contact
Investor relations
cometis AG
Susanne Gremmler
Phone: +49(0)611 - 205855-23
Fax: +49(0)611 - 205855-66
E-mail: gremmler@cometis.de
Branche: Machine Manufacturing
ISIN: DE0005751986
WKN: 575198
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse München / free trade
Original content of: SMT Scharf AG, transmitted by news aktuell