ING rebalances hedge portfolio for employee options
(Thomson Reuters ONE) - ING Groep N.V. has sold 1,450,000 (depositary receipts for) ordinaryshares for its delta hedge portfolio, which is used to hedge employeeoptions. The shares were sold in the open market on 1 September and 2September at an average price of EUR 10.53 per share.ING does not issue new shares to cover employee options. Instead,employees receive shares from the delta hedge portfolio, which ismaintained to minimise the market risks and price fluctuations thatarise from the employee option programmes. The hedge position isadjusted periodically, generally on a quarterly basis, in accordancewith regulatory requirements and ING's policies to prevent marketmanipulation.The hedge book currently holds 34.3 million (depositary receipts for)ordinary ING shares, representing 1.7% of the 2,063 million sharesoutstanding.Press enquiriesRaymond VermeulenING+31 20 541 5682Raymond.Vermeulen(at)ing.comING ProfileING is a global financial institution of Dutch origin offeringbanking, investments, life insurance and retirement services to over85 million private, corporate and institutional clients in more than40 countries. With a diverse workforce of about 110,000 people, INGis dedicated to setting the standard in helping our clients managetheir financial future.Important legal informationCertain of the statements contained herein are statements of futureexpectations and other forward-looking statements. These expectationsare based on management's current views and assumptions and involveknown and unknown risks and uncertainties. Actual results,performance or events may differ materially from those in suchstatements due to, among other things, (i) general economicconditions, in particular economic conditions in ING's core markets,(ii) performance of financial markets, including emerging markets,(iii) the frequency and severity of insured loss events, (iv)mortality and morbidity levels and trends, (v) persistency levels,(vi) interest rate levels, (vii) currency exchange rates (viii)general competitive factors, (ix) changes in laws and regulations,(x) changes in the policies of governments and/or regulatoryauthorities, (XI) conclusions with regard to purchase accountingassumptions and methodologies, (XII) ING's ability to achieveprojected operational synergies. ING assumes no obligation to updateany forward-looking information contained in this document.http://hugin.info/130668/R/1339137/319701.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 02.09.2009 - 17:46 Uhr
Sprache: Deutsch
News-ID 5413
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 285 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ING rebalances hedge portfolio for employee options"
steht unter der journalistisch-redaktionellen Verantwortung von
ING Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
