15.08.2007 - Share buyback up to 150 million CHF
The Board of Directors of Rieter Holding Ltd. has decided to launch a share buyback program of up to 150 million CHF via a second trading line at the SWX Swiss Exchange.
Rieter recorded another steep rise in orders received for the first half of 2007, and the improved year-end results expected will bring a further rise in net liquidity. Despite an average payout ratio of about 40 percent over the last five years, Group net liquidity per June 30, 2007 amounted to 143.8 million CHF. The equity ratio currently exceeds 50 percent. That is why Rieter is in a position to buy back shares for up to 150 million CHF.
Around mid-September a second trading line will be opened for share buyback at the SWX Swiss Exchange. Rieter intends to cancel the repurchased shares and to reduce the share capital accordingly at the Annual General Meeting in 2009.
The Rieter Group strategy remains unchanged. This share buyback program will not significantly influence our funding flexibility, and the Rieter Group’s financial basis remains sound. Thanks to this, internal and external projects contributing to the profitable growth of Rieter can still be realized in future.
Contact for financial analysts:
Chief Financial Officer
T +41 52 208 79 55
F +41 52 208 70 60
Contact for the media:
Head Corporate Communications
T +41 52 208 70 12
F +41 52 208 72 73