CLOPPENBURG, Germany – Today, Derby Cycle AG ended as planned its share repurchase program that the company announced on August 17, 2011 and started on August 29, 2011. Overall, 22,300 own shares – 0.30% of the 7,500,000 shares outstanding – were acquired by Derby Cycle during that time via the XETRA trading exchange. The average purchasing price was 19.81 euro per share.
Derby Cycle’s share repurchase is complete separated from the public offer on Derby shares that Pon Holding recently announced. On September 21 the Dutch automotive holding, that last August took over the leading bike maker of the Netherlands, Gazelle, Pon issued a statement on a voluntary public offer to all shareholders in Derby Cycle AG for 28 euro per share in cash.
The public offer for the shares is part of the Business Combination Agreement (BCA) under which Pon and Derby entered into a strategic cooperation. Aim of the cooperation is that Pon will get a majority shareholding in Derby Cycle AG.
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