Head gives up on its conditional offer to buy back shares

Head NV has finally decided to cancel its conditional offer for its share buy back program. The company had extended the offering period three times, but failed to reach the necessary declarations of acceptances. It received declarations for more than more than 16.5 million shares, but fell short of the targeted 19.2 million during the offer period. Head said that the shares under the offer will be returned to the depository bank in a timely manner, and no later than April 1, 2014.

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