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RTX — Transaction in Own Shares 2017
Jul 31, 2017
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Download source fileThe Supervisory Board of RTX A/S (RTX) has decided to exercise the authority to
buy back shares granted by the Annual General Meeting on 26 January 2017. The
authority is valid until RTX’s Annual General Meeting in January 2018 and
covers a maximum buyback of own shares with a nominal value of up to DKK
2.150.000. From 27 January 2017 to 29 May 2017 RTX has repurchased shares with
a nominal value of DKK 906,755. RTX expects to use the authorisation given to
repurchase shares for a maximum permitted value of DKK 60 million in the period
until January 2018.
As of 31 July 2017, RTX holds 483,007 treasury shares of a nominal value of DKK
5, equal to 6.93% of outstanding shares.
The share buy-back programme runs from 1 August 2017 to 19 January 2018. In
this period RTX will acquire shares with a value of up to DKK 30.0 million. The
share buy-back programme is initiated and structured in compliance with the EU
Commission Regulation No. 596/2014 of 16 April 2014 on market abuse (Market
Abuse Regulation), which ensures that RTX is protected against violation of
insider legislation in relation to the share buy-back programme.
Conditions for the share buy-back programme
-- The purpose of the share buy-back programme is to address the company’s
capital structure and to hedge share-based payments.
-- RTX has entered into a contract with Danske Bank, in which Danske Bank acts
as financial advisor and as Lead Manager of the programme. Danske Bank
handles all purchase transactions independently and without influence from
RTX.
-- The maximum amount that RTX may pay for shares purchased under the share
buy-back programme is DKK 30 million and a maximum of 300,000 shares may be
purchased.
-- The shares cannot be purchased at prices exceeding the higher of (i) the
price of the latest independent trade and (ii) the price of the highest
independent bid on Nasdaq Copenhagen at the time of the transaction.
-- The total number of shares that may be purchased on a single trading day
may not exceed 25% of the average daily trading volume over the preceding
20 trading days on Nasdaq Copenhagen.
-- RTX will announce the number of purchased shares, as well as the value, on
a weekly basis in a separate announcement to Nasdaq Copenhagen. In
accordance with the EU Commission Regulation No. 596/2014, transactions
related to the share buy-back programme will be presented in detailed form
and attached to the weekly company announcement.
RTX is entitled to suspend or stop the programme at any time subject to
announcement to Nasdaq Copenhagen.
Questions and further information:
Peter Røpke, CEO, tel. +45 96 32 23 00