Celanese to cancel and buy-back company shares
The company currently has 5,572,095 of its own shares and thus falls just below the legal limit of 10% of its share capital. The resolution by the shareholders at the Annual General Meeting to purchase company shares includes the authorization to cancel shares purchased without a further shareholder resolution, upon approval by the Supervisory Board. With the approval of the Supervisory Board the Board of Management has decided to cancel in December 2002 1,125,000 of the company's treasury shares. This results in a reduction of the company's registered share capital by EUR 2,876,016.83, from EUR 142,945,371.02 to EUR 140,069,354.19 and a corresponding reduction in treasury shares from nearly 10% to approximately 8%.
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