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The Executive Board of CROSS Industries AG passed resolutions on August 28th 2015 to sell 71,038 of its treasury shares (this represents 0.03% of the share capital) on the Vienna Stock Exchange.
The sale will be handled independently by ICF BANK AG.
The resolution oft he Executive Board is hereby disclosed in accordance with Sec. 82 para 8 Stock Exchange Act in conjunction with Sec. 4 para 2 Austrian Publication Ordinance 2002.
Furthermore, this disclosure announces the essential details related to the sale of treasury shares of CROSS Industries AG (sales program) in accordance with Sec. 5 of the Austrian Publication Ordinance 2002.
Details on the sales program in accordance with Sec. 5 para 2 of the Austrian Publication Ordinance 2002:
1. Date of the authorization resolution by AGM as per Sec. 65 para 1 sub-para 4, 6 or 8 Joint Stock Corporation Act: not applicable.
2. Publication of the authorization resolution by the AGM: not applicable.
3. Start and probable duration of the transfer of shares: from September 7th 2015 to September 11th 2015.
4. Class of shares to which the sale relates: no-par bearer shares of CROSS Industries AG (ISIN AT0000820659).
5. The plan is to sell a volume of up to 71,038 shares – this represents around 0.03% of the current share capital – on the Stock Exchange. The Company´s share capital amounts to EUR 225,386,742. It is divided into 225,386,742 shares with a proportional amount of share capital of EUR 1.00 per share.
6. Lowest and highest consideration to be achieved and/or to be realized per share: Sale price: at least EUR 3.20 per share and not exceeding EUR 5.00 per share.
7. Type and purpose of the sale of treasury shares: the sale will take place on the Vienna Stock Exchange. The purpose of the sale is to increase the number of shares in free float and the trading volume respectively to improve the availability and demand for shares in CROSS Industries AG.
8. Possible effects of the sales program on the Stock Exchange listing: none. All shares in CROSS Industries AG are admitted for official trading on the Vienna Stock Exchange.
9. Currently the Company does not have any ongoing stock option programs.
10. Any changes to the details already published which relate to transactions conducted in the course of the sales program will be published exclusively on the Company´s website www.crossindustries.at in the section “Investor Relations“ – “Share“ – “Share-Buyback-Program“. This disclosure does not constitute an offer to purchase shares in CROSS Industries AG.
The Executive Board
