As mentioned in the company's interim financial statements for nine months
2006/07, the Board of Directors of Coloplast has decided to initiate the
remaining part of the share buy-back programme of DKK 1 billion within current
fiscal year.
The programme is expected to be exercised in the period from 16 August to 30
Septem-ber 2007, and the volume of trading in own shares will be limited to a
maximum total mar-ket value of DKK 500 million.
The buy-back programme is being launched within the scope of the existing
authority granted by the shareholders at the Annual General Meeting in December
2006 for the repurchase of up to 10% of the company's share capital. It will
be proposed to the Annual General Meeting that the shares repurchased under the
programme be cancelled.
The buy-back programme will be structured in compliance with the rules of
Commission Regulation No. 2273/2003 of 22 December 2003, which ensures that the
company is protected against violation of insider legislation in connection
with the buy-back.
The company has entered into a contract with Nordea Bank Danmark A/S, in which
Nordea agrees to act as lead manager of the buy-back programme. According to a
separate contract concluded with the company, Nordea will purchase shares on
behalf of Coloplast A/S. Nordea has also agreed under the contract to make its
trading decisions in relation to the shares in the company independently of,
and without influence by, the company.
Coloplast is entitled to stop the repurchase during the life of the buy-back
programme in the event that significant changes are recorded in the company's
affairs or in the market. If the company decides to stop the repurchase, such a
decision will be disclosed to the public by announcement to the Copenhagen
Stock Exchange. Nordea will subsequently no longer be entitled to purchase
shares in Coloplast A/S on behalf of the company.
The buy-back programme is subject to the following terms:
The volume of trading in own shares will be limited to a maximum total market
value of DKK 500 million.
The maximum number of shares to be acquired under the buy-back programme is
1,200,000 shares of DKK 5 each at a total nominal value of DKK 6,000,000,
equivalent to 2.5% of the share capital of Coloplast A/S.
The maximum number of shares to be purchased in the company per daily market
session is 25% of the average volume of shares in the company traded on the
Copenhagen Stock Exchange during the latest 20 days before the trading day on
Copenhagen Stock Exchange.
During the life of the buy-back programme no shares will be purchased at a
price exceeding the higher of the following two prices:
i) the price of the last independent trade and
ii) the highest current independent bid on the Copenhagen Stock Exchange.
Details of all transactions executed under the buy-back programme will be
publicly disclosed no later than the end of the seventh daily market session.
Coloplast's holding of own shares is 3,003,826 shares equal to 6.3% of the
company's total share capital before initiation of the share buy-back
programme.
Sten Scheibye
President, CEO
Further information
Investors and financial analysts
Lene Skole
Executive Vice President, CFO
Tel. + 45 4911 1665
E-mail: dklsk@coloplast.com
Jørgen Fischer Ravn
Head of Investor Relations
Tlf. 3085 1308
E-mail: dkjfr@coloplast.com
Press and the media
Jens Tovborg Jensen
Head of Media Relations
Tel. + 45 3085 1922
E-mail: dkjto@coloplast.com
This announcement is available in a Danish and an English version. In case of
dis-crepancies, the Danish version will prevail.
