When and why did the TAKKT offer a public buyback of shares?

On 15 January 2009 the Management Board announced a public buyback offer for up to ten percent of own shares at a price of EUR 7.90 per share. The share buy-back was concluded on 20 February 2009. TAKKT AG has acquired a total of 7,289,669 own shares, corresponding to nearly ten percent of share capital. The shares acquired were cancelled at the end of February 2009.
The effect of the share buy-back was to return equity to the shareholders. This resulted in positive effects on both the balance sheet structure and the key figures per share. Even after the buy-back, as well as the proposed distribution of a special dividend, TAKKT has sufficient financial scope for further internal and external growth.