On September 18, 2007, Sulzer closed its share buyback program. The company bought back 211 793 of its own shares (5.8%) for a sum of CHF 300 million. This corresponds to an average share price of around CHF 1 416. The buyback launched on November 14, 2006, was realized via a second line, which had been specially opened on the SWX Swiss Exchange. Please find all information in the referring media releases (see below).
At the annual general meeting of April 3, 2008 the shareholders endorsed a definite cancellation of the 211 793 shares repurchased by the company under the share buyback programme in 2006 and 2007 and a corresponding reduction of the share capital. In addition, it was decided to increase the par value of each share from CHF 0.03 to CHF 0.10 through the conversion of freely distributable reserves and to split the shares on a ten-for-one basis to CHF 0.01. Herewith the tradability of the Sulzer share will be facilitated. Stock exchange trading with the new shares is anticipated to commence on April 14, 2008.