Revocation of the implementation of a share buy-back program
Press release according to WpHG - November 04, 2008
(Cologne, 4 November 2008) The Management Board of Splendid Medien AG, Cologne, ISIN DE0007279507, announced on 30 October 2008, utilising the authorisation granted by the Annual General Meeting on 10 June 2008, to buy back own shares, with the approval of the Supervisory Board. The share buy-back program should have commenced yesterday (3 November 2008) and have been continued no later than 9 December 2009.
After extensive examination, the Management Board today arrived at the conclusion that the conditions according to stock corporation law for implementing the announced share-buy back program are not fully in place at the present moment in time.
The Management Board of Splendid Medien AG will not implement the share buy-back program announced via an electronic dissemination system in an ad-hoc notification on 30 October 2008 for the time being.
Until now, no own shares have yet been acquired by Splendid Medien AG in conjunction with the share buy-back program.