Scheduled purchase of shares under the Matching Stock Program (MSP) for board members and senior executives of the Demag Cranes Group
Düsseldorf, 23. June 2011
Under the Matching Stock Program (MSP) of Demag Cranes AG started in 2006, UniCredit Bank AG has been contracted to acquire Demag Cranes shares totalling EUR 2.2 million between 23 and 28 June 2011 for board members and senior executive staff participating in the programme, through the XETRA trading system of Deutsche Börse AG (Frankfurt Stock Exchange) without adversely affecting the market. Based on yesterday's XETRA closing share price of EUR 45.23, the intended purchase corresponds to a volume of about 48,000 Demag Cranes shares. Pursuant to the conditions of the MSP set up in 2006, the shares are acquired on behalf of the participants, but are subject to a lock-up period of two years.
About Demag Cranes
The Demag Cranes Group is one of the world’s leading suppliers of industrial cranes and crane components, harbour cranes and terminal automation technology. Services, in particular maintenance and refurbishment services, are another key element of the Group’s business activities. The Group is divided into the business segments Industrial Cranes, Port Technology and Services and has strong and well-established Demag and Gottwald brands. Demag Cranes sees its core competence in the development and construction of technically sophisticated cranes and hoists as well as automated transport and logistics systems in ports and terminals, the provision of services for these products and the manufacture of high-quality components.
As a global supplier, Demag Cranes manufactures in 16 countries on five continents and operates a worldwide sales and service network that is present in over 60 countries through its subsidiaries such as Demag Cranes & Components GmbH and Gottwald Port Technology GmbH, agencies and a joint venture. In financial year 2009/2010, the Group, with its 5,711 employees, generated revenue of EUR 931.3 million. Since the end of June 2006, the Demag Cranes share (WKN: DCAG01) has been listed in the Prime Standard of the Frankfurt Stock Exchange and is traded on various indices including the MDAX®.
Demag Cranes AG. We Can Handle It.
Conditions for forward-looking statements
This press release contains forward-looking statements relating to the business, financial performance and earnings of Demag Cranes AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of Demag Cranes AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which are explicitly or implicitly assumed in the forward-looking statements. Demag Cranes AG does not intend or accept any obligation to publish updates of these forward-looking statements.