Senvion initiates up to EUR-75m share buyback programme

German wind turbine manufacturer Senvion SA (ETR:SEN) on Thursday announced the start of stock repurchases under a programme with a maximum total purchase price of EUR 75 million (USD 84.7m).

The company has commissioned a credit institution to conduct the share buyback in several tranches. Up to 6.5 million shares will be repurchased at prices not exceeding EUR 35.00 and not below EUR 10.00 apiece. The institution will not be allowed to buy back over 25% of the average daily trading volume in XETRA trading at the Frankfurt Stock Exchange.

Senvion noted that the programme may be suspended and resumed at any time. The repurchased stock can be used for all purposes permitted according to the applicable regulations of Luxembourg Law, it added.

(EUR 1.0 = USD 1.129)

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