Following Supervisory Board approval and authorization granted in resolution 6 of this year’s General Shareholders’ Meeting to purchase own shares, the Managing Board of the Kahl/Main-based SINGULUS TECHNOLOGIES AG has resolved to buy back up to 10 % of the companies shares on the stock exchange. Within the framework of the authorization, the Managing Board resolution provides for an acquisition of own shares depending on market conditions to commence on October 6, 2004 at the earliest.
Market developments through the third quarter and the positive outlook for the entire year have prompted the company to initiate the authorized share buy-back in the interest of the shareholders. The company currently intents to redeem the acquired shares. By improving the price-earnings ratio this can lead to a positive development of the share price.
The company reaffirms its 2004 projections for double-digit revenue and single-digit EBIT growth.
Third-quarter figures will be published on November 4, 2004.
SINGULUS TECHNOLOGIES AG, Hanauer Landstrasse 103, D-63796 Kahl/Main
ISIN: DE0007238909 / WKN: 723890