GERRY WEBER International AG resolves to terminate the current share buy-back program and to make a public share buy-back offer
Based on the resolution by the Shareholders' Annual General Meeting on June 4, 2008, the Management Board of GERRY WEBER International AG resolved today to terminate the current share buy-back program via the stock exchange and, in lieu thereof, to submit a public offer to the company's shareholders to repurchase up to 1,442,448 no par value bearer shares in the company (ISIN DE0003304101), corresponding to a pro-rata amount of up to 6.28 percent in the current share capital.
The acceptance period for the offer begins on February 12, 2009 and ends on March 4, 2009 at 24.00 hours (CET). During this period, the shareholders of GERRY WEBER International AG may offer their shares for repurchase at a purchase price of 18.90 EUR per no par value bearer share in GERRY WEBER International AG (excluding ancillary acquisition costs). This offer price corresponds to a premium of approx. 1.51 percent on the reference price in the amount of 18.62 EUR, consisting of the volume weighted average share price of GERRY WEBER International Shares in the XETRA trading system during the fifth until the third (including) stock exchange trading day prior to the publication of the public share buy-back offer. If more than 1,442,448 GERRY WEBER International Shares are tendered into this offer (over-subscription), the declarations of acceptance shall be accepted on a pro-rata basis.
Based on the resolution of the Shareholders' Annual General Meeting on June 4, 2008, the repurchased shares may be used as consideration for mergers or for the acquisition of companies or interests therein. The Management Board is also authorised to redeem the repurchased shares all or in part.
To the Management Board's knowledge, individual major shareholders of GERRY WEBER International AG intend to participate in the offer.
More detailed information on the offer will be published by the Company on February 12, 2009 under the section "The Share" on the website of GERRY WEBER International AG.
The Management Board
Halle/Westphalia, February 10, 2009