Simcorp A/S logo

SIM - Simcorp A/S News Story

DKK795.4 -15.0  -1.9%

Last Trade - 3:59pm

Sector
Technology
Size
Large Cap
Market Cap £3.75bn
Enterprise Value £3.74bn
Revenue £395.7m
Position in Universe 153rd / 1831

SimCorp A/S – New Share buyback program

Wed 10th February, 2021 7:38am
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210210:nGNE8SJYh0&default-theme=true


Company Announcement no. 02/2021

SimCorp A/S (“SimCorp”) has today initiated a share buyback program for up
to EUR 20.0m, to be executed during the period from 10 February 2021 to 31
July 2021.

The buyback program is being launched in accordance with the authorization
granted by the shareholders at the Annual General Meeting on 24 March 2020 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 as lead manager of the buyback program.
Under the agreement, Danske Bank 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
20.0m
* Maximum number of shares that can be bought is 300,000 shares of DKK 1 each
* Execution of the buyback will take place from 10 February 2021 to 31 July
2021
* 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)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.