The buy-back program is limited to max. 3.0 million. It will commence on December 11, 2012 and end on March 31, 2013 at the latest, if the maximum number of bonds is not achieved at this point in time. The bank commissioned with the transaction may not purchase more than 50 % of the average daily volume of the bonds at the exchange, at which the purchase is made. Each purchase price of the bonds may not exceed the respective independent prior transaction price and may not exceed the highest independent offer price at the exchange at the time of the purchase. The buy-back program may, if required and legally admissible, be paused and resumed at any time. The Company reserves the right to sell the corporate bonds again.
The goal of financing growth, which was intended by the bond issue, still remains. With the proceeds from the corporate bond Singulus already finances larger projects in the Solar segment, the expansion of the system partnership with producers of thin-film solar cells, the development of new products in Solar and the development of manufacturing equipment for the next generation of Blu-ray Discs.
A considerable amount of the proceeds is intended to be used to set up new business areas in the vacuum coating technology through research and development as well as through acquisitions of companies and company divisions.
Dr.-Ing. Stefan Rinck, Chief Executive Officer of the Singulus Technologies AG, comments: Our balance sheet remains stable and is still very solid with an equity ratio of approximately 40 %. As of September 30, 2012 Singulus' liquid funds amounted to 65.4 million. This equips us with sufficient liquidity, which we will put to use for internal and external growth in the next couple of years.
