Tipp24 AG decides further share buyback
Oct 5, 2007 10:32 AM
Tipp24 AG / Share Buyback Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Executive Board utilises favourable economic conditions (Hamburg, 5 October 2007) Tipp24 has decided to carry out a further share buyback programme. The current regulatory discussions provide favourable economic conditions at present for this resolution of the Executive Board. The company’s positive business development is not reflected in its current share price. Up to 443,616 shares in Tipp24 AG are to be purchased during the period 8 October 2007 to 31 March 2008 and used primarily as an acquisition currency. From February to July 2007, Tipp24 AG already acquired a total of 443,615 own shares, which it still holds. These correspond to almost five percent of Tipp24 AG’s capital stock. Dr. Hans Cornehl, CFO of Tipp24 AG, states: 'The capital market is not currently honouring the clearly visible medium-term growth prospects of the European lottery markets and the corresponding opportunities offered. We have therefore taken the forward-looking decision to launch a further buyback programme of Tipp24 shares.' Details concerning the share buyback programme are posted on the Tipp24 AG website (www.tipp24-ag.de). Every buyback will be announced here no later than seven stock exchange trading days after the respective transaction. About Tipp24 AG: Tipp24 was established in 1999 and is now the market leader for lottery products in the Internet on the basis of billings. The company has succeeded in achieving impressive growth rates right from the start. Almost all state lottery products are supplied. It only takes a few mouse clicks to buy a lottery ticket – round the clock, quickly and reliably. The ticket receipt is kept safely, winners are notified about their prizes automatically by text message and e-mail and prizes are credited automatically. Subsidiaries of Tipp24 (www.tipp24.de) are Ventura24 in Spain (www.ventura24.es) and Puntogioco24 (www.puntogioco24.it) in Italy. Press contact: Tipp24 AG Andrea Fratini Head of Media and Public Relations Phone: +49 40 32 55 33-660 Fax: +49 40 32 55 33-5600 E-mail: presse@tipp24.de Internet: www.tipp24.de/presse/ 05.10.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Tipp24 AG Straßenbahnring 11-13 20251 Hamburg Deutschland Phone: +49 (0)40 325533-0 Fax: +49 (0)40 325533-77 E-mail: office@tipp24.de Internet: www.tipp24-ag.de ISIN: DE0007847147 WKN: 784714 Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------