Brief: Intershop Holding FY Net income Up At CHF 119.6 Mln, Plans Share Buyback

Intershop Holding AG

28/02/2019 06:59

Feb 28 (Reuters) - Intershop Holding  ISN.S :
    * FY NET INCOME REACHED CHF 119.6 MILLION, OR CHF 59.84 PER
SHARE,
AND STANDS AT ALMOST 90% ABOVE RESULT FOR THE PREVIOUS YEAR
    * IS PROPOSING TO THE ANNUAL GENERAL MEETING A DIVIDEND
PAYMENT OF
CHF 22.00 PER SHARE
    * IS OPTIMISTIC FOR THE CURRENT FINANCIAL YEAR, ALTHOUGH IT
DOES
NOT EXPECT GAINS FROM PROPERTY DISPOSALS AT THE LEVEL OF THE
REPORTING YEAR AND NO PROMOTIONAL PROJECT WILL BE COMPLETED
    * FALL IN RENTAL INCOME IN THE ORDER OF 10% IS EXPECTED IN
2019
    * CONTINUES TO ASSUME THAT IT WILL ACHIEVE A RETURN ON
EQUITY
EQUIVALENT TO THE AVERAGE YEARLY RATE OF AT LEAST 8% FOR 2019
    * PLANS SHARE BUYBACK
    * DECIDED TO UNDERTAKE A SHARE BUYBACK OF UP TO 5% OF THE
OUTSTANDING SHARES BY WAY OF A FIXED PRICE OFFER OF CHF 515 PER
SHARE
    * BOARD RECOMMENDS TO THE ANNUAL GENERAL MEETING THAT THE
REPURCHASED SHARES BE SUBSEQUENTLY CANCELLED
    * FOLLOWING THE REDUCTION OF THE SHARE CAPITAL BY UP TO 5%,
THE
ANNUAL DIVIDEND AMOUNT WILL BE REDUCED BY UP TO CHF 2.2 MILLION
    * TERMS AND CONDITIONS OF BUYBACK ARE EXPECTED TO BE
PUBLISHED ON
5TH MARCH 2019

    
 Source text - https://bit.ly/2NwYq76
    
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