Relating to the share buyback program announced at December 15, 2005, VastNed Offices/Industrial has repurchased a total of 397,801 shares during the period from December 15, 2005 up to and including February 8, 2006. The repurchased shares will support the direct investment result per share. As already announced in the press release of December 15, 2005, the buyback program has been completed on February 8, 2006.
The 397,801 repurchased shares represent 53% of the announced maximum of 750,000 shares to be repurchased. The shares were repurchased against an average price of €22.37 per share. Mainly due to the interest in the market for VastNed Offices/Industrial shares, resulting in a favorable share price development, the maximum number of shares has not been repurchased. To use the financial capacity as optimal as possible, VastNed Offices/Industrial will, on a permanent basis, consider different investment possibilities, including the buyback of shares.
Reinier van Gerrevink, chief executive officer: Through this share buyback program we have showed our confidence in the office market and in our cleaned portfolio. The market has reacted favorably to this initiative judging by the increased share price.