For the business press
Munich, 2008-Jun-06
Starting on June 9, 2008, Siemens AG will continue its share buyback program, which has a total volume of up to €10 billion, by acquiring a further tranche of up to €2 billion. This corresponds to a volume of up to 28 million shares at the current price. Within subject to market conditions the company intends to repurchase the shares by July 23, 2008 in order to cancel and reduce capital stock and, to a lesser extent, fulfill obligations arising out of stock compensation programs. “This is another important step toward achieving our capital structure goal while maintaining our financial strength. With this second tranche of our share buyback program, we’re rigorously implementing what we promised to our shareholders and owners,” said Siemens CFO Joe Kaeser.
Siemens will mandate a bank to execute the share buyback. During the period of the buyback, the lead management may be transferred to another bank. The buyback will be executed under the most favorable terms available on the Xetra trading platform of the Frankfurt Stock Exchange. In the period from January 28, 2008 to April 8, 2008, Siemens repurchased an initial tranche of company shares with a nominal value of approximately €2 billion.
As part of the company’s Fit for 2010 program, Siemens has set itself a target for an optimized capital structure. Definitions are available at www.siemens.com/investorrelations.
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of €72.4 billion and income from continuing operations of €3.9 billion (IFRS). Further information is available on the Internet at: www.siemens.com.
This document contains forward-looking statements and information – that is, statements related to future, not past, events. These statements may be identified by words as “expects,” ”looks forward to,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will” or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens’ control, affect its operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens worldwide to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For us, particular uncertainties arise, among others, from: changes in general economic and business conditions (including margin developments in major business areas); the challenges of integrating major acquisitions and implementing joint ventures and other significant portfolio measures; changes in currency exchange rates and interest rates; introduction of competing products or technologies by other companies; lack of acceptance of new products or services by customers targeted by Siemens worldwide; changes in business strategy; the outcome of pending investigations and legal proceedings; our analysis of the potential impact of such matters on our financial statements; as well as various other factors. More detailed information about our risk factors is contained in Siemens’ filings with the SEC, which are available on the Siemens website, www.siemens.com, and on the SEC’s website, www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.
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