Royal Vopak announces to repurchase Vopak shares to a maximum of 150,000 shares in the period from today until 30 June 2010 (it involves a maximum of 300,000 shares when the approved 1:2 share split will take effect on a date further to be determined).
As in previous years, this is the next portion of shares in the hedging of the long-term variable income plan as authorized by the Annual General Meeting of Shareholders. This plan grants shares to the Executive Board and senior management, if specific financial performance criteria are met.
According to the authorization as granted by the Annual General Meeting 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’ program is lead-managed by a credit institution which makes its trading decisions in relation to the issuer’s shares of course independently of, and without influence by, the issuer with regard to the timing of the purchase.
Profile Royal Vopak
Royal Vopak is the world's largest independent tank storage service provider, specialized in the storage and handling of bulk liquid chemicals, gasses and oil products. Vopak operates 80 terminals with a storage capacity of more than 28 million cubic meters in 31 countries. The terminals are strategically located for users along 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.