Today, the Executive Board of RWE AG passed a resolution based on the authorization of the Annual General Meeting of April 18, 2007, to launch a share buyback programme. Shares in RWE AG with a value of up to EUR 2.5 billion are to be bought back in the period between February 21, 2008, and the expiration of the authorization on October 17, 2008.
The purchase of the shares shall be conducted via the stock exchange. The purchase price per share (excluding ancillary purchase costs) may not be 10% above or below the average closing price quoted on the last three stock market trading days prior to the purchase in the XETRA trading system on the Frankfurt Stock Exchange. The shares that are bought back may be used for any purpose set forth in the authorization resolution of the Annual General Meeting of April 18, 2007.
The buyback will be carried out by the banks commissioned by the Company and in accordance with Art. 4 to 6 of the Directive (EC) No. 2273/2003 of the Commission of December 22, 2003.
If the authorization to repurchase own shares of April 18, 2007, is replaced by a new authorization within the scope of the next Annual General Meeting on April 17, 2008, the share buyback programme may be continued on the basis of the new authorization even after October 17, 2008.
The Executive Board
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