Telekom Austria exercises call options and buys back 0.67% of its share capital to use for stock options (Ad hoc Release)
Vienna, February 20, 2004: Telekom Austria announced today its intention to exercise the 3,326,881 American call options on shares of Telekom Austria AG which were acquired during the IPO in November 2000 to limit the company’s exposure under the current stock option plan. The call options expire on February 27, 2004.
The execution price of each call option is EUR 9. Following the exercise of the options, 3,326,881 Telekom Austria shares, i.e. 0.67% of its share capital, will be credited to the accounts of Telekom Austria by means of an off-market transaction at 9 EUR per share on March 3, 2004. The buyback will be used to cover obligations resulting from present and future stock option programs. The transaction takes place in the framework of the authorization to buy back up to 50 million shares which was given by the general assembly to the management board on June 4, 2003. Telekom Austria is exercising this right for the first time.Contact:
Hans Fruhmann
Telekom Austria AG
Investor Relations,
Tel.: +43 (0) 590591-20918
E-mail: hans.fruhmann@telekom.at
