STOCK EXCHANGE ANNOUNCEMENT
3 January 2008
Share buyback
IC Companys A/S has begun share buyback 3 January 2008
The Group's cash position is developing as expected, and the
announced share buyback for 2007/08 has commenced as planned. The
total share buyback is expected to amount to approximately DKK 200
million in the period until 30 June 2008.
The share buyback will be effected within the authorisation given to
the Board of Directors at the company's annual general meeting held
on 24 October 2007 to acquire own shares up to 10% of the share
capital.
The first share buyback programme amounts to DKK 70 million and is
expected to be implemented in the period from 3 January 2008 to 28
February 2008.
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 SEB Enskilda as lead manager of the
Programme. SEB Enskilda 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 discontinue 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. SEB Enskilda 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 70 million.
* A maximum of 6,612 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 December 2007. The maximum number of shares allowed to be bought
back under the first Programme is 271.092.
* 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
Contacts
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
IC Companys A/S - Raffinaderivej 10 - DK 2300 Copenhagen S - tel. +45
3266 7788 - fax +45 3266 7703 - CVR no. 62 81 64 14 ho@iccompanys.com
- www.iccompanys.com
