22 February 2007
Share buyback
IC Companys A/S has begun share buyback
The Board of Directors of IC Companys A/S has decided to initiate the next
programme of the previously announced share buyback. The total share buyback is
expected to amount to approximately DKK 200 million in the period until 30 June
2007.
The share buyback will be effected within the authorisation given to the Board
of Directors at the company's annual general meeting held on 25 October 2006 to
acquire own shares up to 10% of the share capital.
The first share buyback programme amounts to DKK 75 million and is expected to
be implemented in the period from 22 February 2007 to 23 May 2007.
The programme is being implemented in accordance with the provisions of the
European Commission's regulation no. 2273/2003 of 22 December 2003 which
protects listed companies against violation of insider legislation in connection
with share buybacks. The detailed terms of the share buyback are provided below.
IC Companys A/S has appointed Danske Markets (Division of Danske Bank A/S) as
lead manager of the programme. Danske Markets will, under a separate agreement
with the company, buy back shares on behalf of IC Companys A/S and make
decisions in respect of IC Companys A/S shares independently of and without
influence from IC Companys A/S as to the timing of the purchases, and will
complete the buyback within the mentioned framework of the programme as set out
in this announcement.
The purpose of the programme is to reduce IC Companys' share capital.
Accordingly, the Board of Directors will, not later than at the company's next
annual general meeting, submit a proposal to reduce the share capital by a
nominal amount that will, as a minimum, correspond to the nominal value of the
share capital bought back under the programme.
IC Companys has the right to stop the buyback during the term of the programme
in the event of material adverse changes in the company's financial position or
material changes in the market. In the event such a decision is made, IC
Companys will make an announcement thereof. Danske Markets will then no longer
be entitled to buy shares on behalf of IC Companys under the programme in
consequence of the termination of the programme.
In addition, the programme will be implemented under the following framework:
The maximum aggregate consideration for IC Companys' shares bought back will be
DKK 75 million.
The maximum number of shares allowed to be bought back under the programme is
1,369,797 shares, equal to 10% of the issued share capital of IC Companys less
the company's holding of treasury shares at the date of this announcement.
A maximum of 24,072 shares will be bought back during any one single trading
day, equal to 25% of the average daily trading volume of IC Companys' shares on
the Copenhagen Stock Exchange during the month of October 2006.
In transactions undertaken under the programme, shares will not be bought at
prices exceeding the higher of: (i) the share price of the latest independent
transaction and (ii) the highest independent bid (highest buyer's bid) on the
Copenhagen Stock Exchange.
At least once every seven trading days, the company will issue an announcement
in respect of transactions made under the programme.
IC Companys A/S
Henrik Theilbjørn
President & CEO
Henrik Theilbjørn, President & CEO Chris Bigler, CFO
Tel +45 3266 7646 Tel +45 3266 7017
This announcement is a translation from the Danish language. In the event of any
discrepancy between
the Danish and English versions, the Danish version shall prevail
