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CELANESE LOGO
PRESS RELEASE CELANESE AG Corporate Center
Media Relations Frankfurter Strasse 111
D-61476 Kronberg/Ts.
Dr. H.-B. Heier
Phone: +49 69 305 7112
Fax: +49 69 305 84160
[email protected]
Phillip Elliott
Phone: +49 69 305 33480
Fax: +49 69 305 84160
[email protected]
July 14, 2000
CELANESE BUYS BACK MORE THAN 5% OF ITS OWN SHARES
Celanese AG today announced that it has bought back 5.26% of its outstanding
shares.
At the Annual General Meeting of Celanese AG on May 10, 2000, shareholders
present authorized the Board of Management to buy back up to 10% of its
outstanding 55,915,369 shares by November 9, 2001. At that time, Celanese
already held call options for 5.1 million shares, which were purchased to cover
costs related to its equity based management incentive programs.
On May 11, 2000, the company issued a press release announcing plans to
begin with the buy-back of the 491,500 shares not covered by options. These
shares have now been purchased. Celanese will continue to exercise its remaining
call options under the approved program mentioned above.
The announcement was made in accordance with ss. 21 and ss. 25 of the German
Securities Trading Act.
