At the General Shareholders’ Meeting held in Frankfurt on May 13, 2004, over 99% of the shareholders voted for a share buy-back program. Under the program, the Board is now authorized to buy back SINGULUS shares up to a par value equivalent of EUR 3.706.341. The authorization to buy back can be exercised either once in its entirety or in several tranches.
The shares can be bought on the stock exchange or through a public tender to all shareholders of the company.The company intends to use the shares for potential funding of future business acquisitions or, by cancelling the acquired stock reducing the total number of available shares. Such a measure would increase earnings per share.