Announcement no. 2/2019
22 February 2019
Coloplast initiates the second part of the DKK 1bn share buy-back programme
Coloplast A/S is initiating the second part of the share buy-back programme totalling up to DKK 1bn, cf. announcement no. 3/2018 of 20 February 2018. The second part of the programme of DKK 500 million will commence on 25 February 2019 and is expected to end by 23 August 2019. The first part of the programme, amounting to DKK 500 million, was executed in the 2017/18 fiscal year.
The buy-back programme is being launched within the authority granted by the shareholders at the Annual General Meeting on 5 December 2018, for the repurchase of up to 10% of the company’s share capital.
The buy-back programme will be structured in accordance with Article 5 of Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and Regulation 2016/1052, also referred to as the "Safe Harbour" rules, which ensure that the company is protected against violation of insider legislation in connection with the buyback programme.
The company has entered into a contract with Nordea, in which Nordea agrees to act as manager of the second part of the buy-back programme for DKK 500 million, and 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 discontinue the repurchase during the life of the buy-back programme. If the company decides to discontinue the repurchase, such a decision will be disclosed to the public by announcement to Nasdaq Copenhagen. Once effective, Nordea will no longer be entitled to purchase shares in Coloplast A/S on behalf of the company.
The second part of the buy-back programme is subject to the following terms:
- The programme will commence on 25 February 2019 and is expected to end by 23 August 2019.
- 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 purchased in the company per daily market session will be the equivalent to 25% of the average volume of shares in the company traded on Nasdaq Copenhagen during the preceding 20 business days.
- 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 Nasdaq Copenhagen.
Details of transactions executed under the buy-back programme will be publicly disclosed on www.coloplast.com no later than the end of the seventh daily market session.
Prior to the launch of the share buy-back programme Coloplast’s holds 3,510,304 treasury shares, equal to 1.6% of the company’s share capital.
Anders Lonning-Skovgaard
CFO
For more information, please contact:
Investors and analysts
Anders Lonning-Skovgaard
Executive Vice President, CFO
Tel. +45 4911 1111
Ellen Bjurgert
Vice President, Investor Relations
Tel. +45 4911 1800 / 4911 3376
E-mail dkebj@coloplast.com
Rasmus Sørensen
Senior Manager, Investor Relations
Tel. +45 4911 1800 / 4911 1786
E-mail dkraso@coloplast.com
Press and the media
Lina Danstrup
Senior Media Relations Manager, Corporate Communications
Tel. +45 4911 2607
E-mail dklina@coloplast.com
Website
www.coloplast.com
Address
Coloplast A/S
Holtedam 1
DK-3050 Humlebæk
Denmark
Business reg. (CVR) no. 69749917
This announcement is available in a Danish and an English-language version. In the event of discrepancies, the Danish version shall prevail.
The Coloplast logo is a registered trademark of Coloplast A/S. © 2019-02 All rights reserved. Coloplast A/S, 3050 Humlebæk, Denmark.
Coloplast develops products and services that make life easier for people with very personal and private medical conditions. Working closely with the people who use our products, we create solutions that are sensitive to their special needs. We call this intimate healthcare.
Our business includes Ostomy Care, Interventional Urology, Continence Care and Wound and Skin Care. We operate globally and employ about 12,000 people.
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