Intertrust intends to repurchase shares
(Thomson Reuters ONE) -
Amsterdam - March 22, 2017 - Intertrust N.V. ("Intertrust" or "the Company")
[ticker symbol INTER], the leading global provider of high-value trust,
corporate and fund services, announces that it intends to repurchase up to
1,856,354 of its ordinary shares to cover a deferred obligation to transfer
shares to certain members of the former management team of Elian as part of the
consideration for the acquisition of the Elian Group which was completed in
September 2016. It will also cover an obligation to transfer shares to certain
Elian employees as a result of the vesting of grants made pursuant to
Intertrust's Employee Stock Ownership Plan 2016.
The repurchase transactions may be effected between 22 March 2017 and 6 October
2017. The repurchase transactions will be effected under the authorisation
granted by Intertrust's General Meeting of shareholders on 12 May 2016.
Intertrust has engaged an independent broker, Kempen & Co, to execute the
repurchase transactions on its behalf and the transactions will be executed by
such broker under the terms of an engagement letter. The timing of any
repurchase transaction will be determined by the broker independently of, and
without influence by, Intertrust.
The ordinary shares will be repurchased at a price that does not exceed a
maximum of 110% of the average closing price of the five trading days
immediately preceding the date of repurchase. The contemplated repurchase of the
ordinary shares will be funded from Intertrust's available cash resources.
For further information
Intertrust N.V.
annelouise.metz(at)intertrustgroup.com
Anne Louise Metz Tel: +31 20 577 1157
Director of Investor Relations, Marketing & Communications
About Intertrust
Intertrust is the leading global provider of high-value trust, corporate and
fund services, with approximately 2,500 employees located throughout a network
of 41 offices in 30 jurisdictions across Europe, the Americas, Asia and the
Middle-East. The Company delivers high-quality, tailored services to its clients
with a view to building long-term relationships. Intertrust's business services
offering is comprised of corporate services, fund services, capital market
services, and private wealth services. Intertrust has leading market positions
in the key geographic markets of its industry, including the Netherlands,
Luxembourg, Jersey, and the Cayman Islands. Intertrust works with global law
firms and accountancy firms, multi-national corporations, financial
institutions, fund managers, high net worth individuals and family offices.
Intertrust NV Press release - Repurchase March 2017:
http://hugin.info/171118/R/2089604/788909.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Intertrust Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.03.2017 - 07:15 Uhr
Sprache: Deutsch
News-ID 531664
Anzahl Zeichen: 3542
contact information:
Town:
Amsterdam
Kategorie:
Business News
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