SimCorp A/S (“SimCorp”) has today initiated a share buyback program for up to EUR 40.0m, to be executed during the period from 10 May 2016 to 20 February 2017.
The buyback program is being launched in accordance with the authorization granted by the shareholders at the Annual General Meeting on 1 April 2016 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 Nordea Bank A/S as lead manager of the buyback program. Under the agreement Nordea 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:
Details of transactions executed under the buyback program will be publicly disclosed on the Simcorp website not later than the end of the seventh daily market session.