Company announcement No. 9/2017 Launch of share buyback programme Today, Nets A/S ("Nets") announces that the Board of Directors has decided to initiate a share buyback programme of up to 1,200,000 shares for the purpose of hedging Nets' long-term ...
| Company announcement |
Launch of share buyback programme
Today, Nets A/S ("Nets") announces that the Board of Directors has decided to initiate a share buyback programme of up to 1,200,000 shares for the purpose of hedging Nets' long-term incentive programmes.
The share buyback programme is launched with reference to the authorisation to acquire treasury shares granted by the general meeting on 9 September 2016. The authorisation is valid until 1 September 2021 and allows Nets to acquire shares with a total nominal value of up to 10% of its share capital.
The share buyback programme will be executed in accordance with the provisions of Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the "Safe Harbour Regulation") and will end no later than 31 July 2017.
Nets has appointed Nordea Danmark, filial af Nordea Bank AB (publ), Sverige ("Nordea"), as lead manager of the share buyback programme. Under a separate agreement, Nordea will buy back shares on behalf of Nets and make related trading decisions independently of and without influence by Nets.
The share buyback programme will be implemented under the following terms:
- The maximum number of shares to be bought back will be 1,200,000;
- The maximum number of shares that may be purchased per daily market session may not exceed 25% of the average daily volume of Nets shares on the trading venue on which the purchase is carried out during the preceding 20 trading days; and
- Shares cannot be bought back at a price higher than (i) the price of the latest independent trade, and (ii) the price of the current highest independent bid on the trading venue on which the purchase is carried out.
On a weekly basis, Nets will announce transactions made under the share buyback programme in accordance with the reporting obligations imposed by the Safe Harbour Regulation.
Nets may terminate the programme at any time, which will be announced through Nasdaq Copenhagen, if relevant.
As of today, Nets holds 2,666 treasury shares corresponding to 0.001% of the total share capital.
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Information on Nets
Nets is a leading provider of digital payment services and related technology solutions across the Nordic region. Nets sits at the centre of the digital payments ecosystem and operates a deeply entrenched network, which connects merchants, corporate customers, financial institutions and consumers enabling them to make and receive payments as well as, increasingly, utilise value-added services to help them improve their respective activities.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nets A/S via Globenewswire
Source(s) : Nets A/S
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