Hunter Douglas announces Share Buy Back Program
Hunter Douglas announces Share Buy Back Program
Rotterdam, November 25, 2003 - Hunter Douglas announces that it will institute a Share Buy Back Program.
The Company intends to buy up to EUR 50 million of its common shares within the next 12 months on the market; depending on market conditions.
The controlling family will not sell shares to the Company under this program.
The objective of the program is to optimize the Company's capital structure. The funds will come from the Company's own liquidity and any shares purchased will be cancelled.
The share purchases will qualify under the Withholding Tax Free Facility provided under the Dutch Dividend Tax Act.
The Company has no specific plans to initiate further buy-backs. Should market conditions and the company's liquidity be favorable to share buy-back programs in the future, these buy-backs would be subject to Dutch Withholding Tax.
The ABN AMRO Bank will act as the agent for the Company in executing this program.
Hunter Douglas is the world market leader in window coverings and major manufacturer of architectural products. The Company has its Head Office in Rotterdam, The Netherlands and a Management Office in Luzern, Switzerland. For the first nine months of 2003, the Company reported sales of EUR 1,248 million and net profit of EUR 84 million.
The shares of Hunter Douglas N.V. are traded on the Dutch and German Stock Exchanges.
The Company intends to buy up to EUR 50 million of its common shares within the next 12 months on the market; depending on market conditions.
The controlling family will not sell shares to the Company under this program.
The objective of the program is to optimize the Company's capital structure. The funds will come from the Company's own liquidity and any shares purchased will be cancelled.
The share purchases will qualify under the Withholding Tax Free Facility provided under the Dutch Dividend Tax Act.
The Company has no specific plans to initiate further buy-backs. Should market conditions and the company's liquidity be favorable to share buy-back programs in the future, these buy-backs would be subject to Dutch Withholding Tax.
The ABN AMRO Bank will act as the agent for the Company in executing this program.
Hunter Douglas is the world market leader in window coverings and major manufacturer of architectural products. The Company has its Head Office in Rotterdam, The Netherlands and a Management Office in Luzern, Switzerland. For the first nine months of 2003, the Company reported sales of EUR 1,248 million and net profit of EUR 84 million.
The shares of Hunter Douglas N.V. are traded on the Dutch and German Stock Exchanges.
