Vopak announces to repurchase Vopak shares to a maximum of 85.000 shares in the period from today until 31 March 2008. This program intends to cover future obligations as a result of the Long Term Incentive Plan for the Executive Board and senior management, if specific financial criteria will be met.
According the authorisation as granted by the General Meeting of Shareholders to the Executive Board, the maximum purchase price per share will not be higher than 110% of the average stock market quotation of the last five business days previous to the date of the purchase.
The ‘buy-back’ programme is lead-managed by a credit institution which makes its trading decisions in relation to the issuer’s shares independently of, and without influence by, the issuer with regard to the timing of the purchase.
Profile Vopak
Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 74 terminals with a storage capacity of more than 21 million cbm in 30 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.