NIEUWEGEIN, The Netherlands, November 28, 2011 /PRNewswire/ --
Number 2011.028 E
Ballast Nedam N.V. announces that it has decided to buy a maximum of 32,500 depositary share receipts of Ballast Nedam N.V. to cover current management options obligations.
The required approval for the share buy-back is obtained at the General Meeting of Shareholders on 19 May 2011 and runs until 19 November 2012. The acquisition of the depositary share receipts will begin as of today.
The price per depositary share receipt shall not be higher than the average stock market quotation plus ten per cent. The average stock market quotation shall be calculated based on the average closing rate for the five business days previous to the date of purchase.
Ballast Nedam has a leading position in construction and infrastructure. The company operates mainly in the Netherlands on integrated and other projects for companies, public authorities and housing consumers, in the fields of mobility, housing, employment, leisure and energy. Ballast Nedam operates internationally in various areas of expertise. Ballast Nedam supplies project, process and contract management in the development, implementation and management phases. The company also provides specialized know-how and skills, and semi-finished and finished products. Ballast Nedam is listed on NYSE Euronext in Amsterdam. The share is included in the Amsterdam Small Cap Index. For more information please refer to http://www.ballast-nedam.com.
SOURCE Ballast Nedam NV