Share Buyback
Our share buyback program started on June 27, 2007. As part of this program, E.ON plans to buy back stock worth approximately EUR7 billion by the end of 2008. The shares will be cancelled later in order to reduce the capital stock. With the share buyback, we will decrease our equity while simultaneously increasing our indebtedness. This is an important step towards making our capital structure more efficient. The buyback also reflects our confidence in the valuation upside of our stock.
In 2007, E.ON bought back shares worth around EUR3.5 billion. Shares amounting to a further EUR3.5 billion are to be bought back in 2008. Based on the stock’s June 26, 2007 trading price (EUR120.0 per share), we can acquire approximately 58 million shares. Depending on the development of the share price, the effective number can be higher or lower. We will regularly inform you here on the progress of the share buyback program.
In 2007, E.ON bought back shares worth around EUR3.5 billion. Shares amounting to a further EUR3.5 billion are to be bought back in 2008. Based on the stock’s June 26, 2007 trading price (EUR120.0 per share), we can acquire approximately 58 million shares. Depending on the development of the share price, the effective number can be higher or lower. We will regularly inform you here on the progress of the share buyback program.
