Transaction in Own Shares • Aug 24, 2017
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Download Source FileSimCorp A/S (“SimCorp”) has today initiated a share buyback program for up to
EUR 7.5m, to be executed during the period from 24 August 2017 to 31 December
2017.
The buyback program is being launched in accordance with the authorization
granted by the shareholders at the Annual General Meeting on 29 March 2017 to
repurchase up to 10% of the SimCorp’s share capital in the period until the
next annual general meeting.
The buyback program will be structured and carried out in compliance with the
provisions of Regulation No. 596/2014 of the European Parliament and of the
Council on market abuse (the Market Abuse Regulation - MAR) and delegated
legislation under MAR.
SimCorp has appointed Danske Bank A/S as lead manager of the buyback program.
Under the agreement, Danske Bank A/S will purchase shares on behalf of SimCorp
and will make its trading decisions independently of, and without influence by
SimCorp.
The buyback program is subject to the following terms:
-- The purpose of the program is to reduce the share capital of SimCorp and to
meet the obligations arising from SimCorp’s incentive scheme
-- Total purchases of own shares will be limited to a total market value of
EUR 7.5m
-- Maximum number of shares that can be bought is 250,000 shares of DKK 1 each
-- Execution of the buyback will take place from 24 August 2017 to 31 December
2017
-- Maximum number of shares to be purchased in SimCorp per daily market
session will be the equivalent to 10% of the average volume of SimCorp
shares traded on NASDAQ OMX Copenhagen during the preceding 20 business
days
-- During the life of the buyback program no shares will be purchased at a
price exceeding the higher of the following two prices on NASDAQ OMX
Copenhagen:
1. The price of the last independent trade, and
2. The highest current independent bid
Details of transactions executed under the buyback program will be publicly
disclosed on www.simcorp.com not later than the end of the seventh daily market
session.
Enquiries regarding this announcement should be addressed to:
Anders Hjort, Head of Investor Relations, SimCorp A/S (+45 3544 8822, +45 2892
8881)
Company Announcement no. 37/2017
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