SimCorp A/S (“SimCorp”) has today initiated a share buyback program for up to EUR 20.0 million, to be executed during the period from 28 August 2013 to 24 February 2014.
The buyback program is being launched in accordance with the authorization granted by the shareholders at the Annual General Meeting on 21 March 2013 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 in compliance with the rules of Commission Regulation No. 2273/2003 of 22 December 2003, which provides protection against violation of insider trading legislation in connection with the execution of the buyback.
SimCorp has appointed Danske Bank A/S as lead manager of the buyback program for EUR 20.0 million. Under the agreement Danske Bank A/S 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:
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:
Thomas Johansen, Chief Financial Officer, SimCorp A/S (+45 3544 8800, +45 2811 3828)
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 3544 8802, +45 2326 0000)
Company Announcement no. 50/2013