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Press Release02 August 2012Siemens AGMunich, Germany
Siemens optimizes its capital structure by equity to debt swap
The Managing Board has adopted today a share repurchase of up to Euro 3 billion which has been approved by the Supervisory Board backed by an authorization given by the Annual Shareholders' Meeting on January 25, 2011. The buy back is expected to be executed until December, 30 of 2012. The buy back serves the purposes of cancellation and reduction of capital stock, issuance to employees, board members of affiliated companies, members of the Managing Board as well as for convertible bonds and warrant bonds. In addition, the Managing Board has decided the cancellation of approximately 33 million treasury shares which will reduce the capital stock from 914 million to 881 million. The move is seen as a clear commitment of the company to fulfilling its capital structure goals of its "One Siemens" financial target system.
For this press release
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 160 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is the world's largest provider of environmental technologies. Around 40 percent of its total revenue stems from green products and solutions. In fiscal 2011, which ended on September 30, 2011, revenue from continuing operations totaled €73.5 billion and income from continuing operations €7.0 billion. At the end of September 2011, Siemens had around 360,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.
Contact
Günter Gaugler
Siemens AG
Wittelsbacherplatz 2
80333 Munich
Germany
80333 Munich
Germany
+49 (89) 636-34782