Successful completion of Panalpina share buyback program
09/03/2008
On 2 September 2008, global forwarding and logistics company Panalpina concluded the share buyback program that was initiated in August 2007. As planned, a total of 1.25 million shares were repurchased.
The Board of Directors of Panalpina World Transport (Holding) Ltd. announced in 2007 to let excess liquidity flow back to stockholders by means of a share buyback program via a second trading line on the SWX Swiss Exchange. As planned, between 13 August 2007 and 2 September 2008, Panalpina repurchased 1.25 million registered shares totalling a value of CHF 184.8 million and representing 5% of share capital. The share buyback program has now been successfully and promptly concluded.
It is intended to cancel the repurchased shares by way of a share capital reduction.
The Panalpina Group The Panalpina Group is one of the world's leading suppliers of forwarding and logistics services, specializing in intercontinental air freight and ocean freight shipments and associated supply chain management solutions. Thanks to its in-depth industry know-how and state-of-the-art IT systems, Panalpina provides globally integrated door-to-door forwarding solutions tailored to its customers' individual needs. The Panalpina Group operates a close-knit network with some 500 branches in 90 countries. In a further 60 countries, it cooperates closely with partner companies. Panalpina employs over 15 000 people worldwide.
