Head has extended its conditional share buy-back offer from the original deadline of Dec. 27 to Jan. 21, leaving all the conditions unchanged. The company had offered to buy back its shares at a price €1.90 on the condition that at least 19,214,042 shares would be tendered. However, by Dec. 27, it got offers for only 15,908,018 shares.

The value of the stock has been rising steadily in recent years. The current price of around €1.62 is lower than a previous high of €1.88 last year, but much higher than a low of 23 cents in July 2009. If the minimum number of shares is tendered, Head NV, a Dutch holding company controlled by Johan Eliasch, would raise its stake in the operative Austrian company from 66.28 percent to almost 84 percent, triggering perhaps a bid for full ownership at a later stage.

In addition to his job as Head's chief executive, Eliasch has several other roles. According to the filing related to the share buyback, a company affiliated with Eliasch gets an annual fee of €4.6 million for a variety of consulting services, corporate finance, investor relations and legal services.