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Does Umicore have a share buy-back programme?
The company completed a € 150 million share buy-back programme during 2007 and subsequently embarked on a further € 400 million buy-back programme. On 31 December 2007 Umicore owned 10,911,770 of its own shares. The Extraordinary General Meeting of 5 February 2008 agreed the cancellation of 5,986,625 Umicore shares (number adjusted for stock split).
On 23 October 2008 Umicore owned 12,446,522 of its own shares (9.96% of the total), with some € 63 million of the € 400 million buy-back programme still outstanding.
The company retains the authorization from the shareholders to repurchase a maximum of 10% of its share capital. In this context Umicore will seek shareholders approval to cancel 5 millions shares held in treasury at an EGM scheduled for December. This will enable the completion of the € 400 million buy-back programme.