Intertrust N.V. announces start of share repurchase programme of up to EUR 50 million
(Thomson Reuters ONE) -
Amsterdam - 13 November 2017 - Intertrust N.V. ("Intertrust" or the "Company")
[ticker symbol INTER], a leading global provider of high-value trust, corporate
and fund services, today commences a programme to repurchase ordinary shares in
its capital for a total aggregate consideration of up to EUR 50 million. Based
on the most recent closing price of Intertrust shares on Euronext Amsterdam this
would be the equivalent of up to approximately 3.8 million shares.
Approximately 850,000 shares will be used for employee stock ownership and
incentive plans vesting in 2018 and 2019, with the remainder of the repurchased
shares to be cancelled (after approval by the general meeting of shareholders).
The share repurchase programme will commence on 13 November 2017 and is expected
to be completed by 29 June 2018 or earlier when the maximum aggregate value has
been reached.
Intertrust has engaged an independent broker to execute the repurchase
transactions on its behalf. Any trading decisions in connection with the share
repurchase programme, including the timing of any repurchase transaction, will
be determined by the broker independently of, and without influence by,
Intertrust.
The share repurchase programme will be conducted in accordance with the Market
Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU)
2016/1052 and within the safe harbor parameters for repurchase programmes.
Additionally, the programme will be executed within the existing authority
granted to the Management Board at the Annual General Meeting on 16 May 2017.
The ordinary shares will be repurchased at a price that does not exceed the
lower of (1) a maximum of 110% of the average of the highest quoted price per
share on the last five consecutive trading days immediately preceding the date
of repurchase, according to the Official Price List of Euronext Amsterdam and
(2) the threshold stipulated by Article 3(2) of Commission Delegated Regulation
(EU) 2016/1052. The share repurchase will be funded from Intertrust's available
cash resources.
Intertrust will publish weekly updates of the progress of this share repurchase
programme and the information will also be available on its Investors website
www.intertrustgroup.com/investors.
For further information
Intertrust N.V.
marieke.palstra(at)intertrustgroup.com
Marieke Palstra Tel:
+31 20 577 1157
Director of Investor Relations, Marketing & Communications
About Intertrust
Intertrust is a leading global provider of high-value trust, corporate and fund
services, with approximately 2,500 employees located throughout a network of 39
offices in 28 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 selected 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-share-repurchase-programme-announced-nov-2017:
http://hugin.info/171118/R/2149031/824660.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
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Datum: 13.11.2017 - 07:15 Uhr
Sprache: Deutsch
News-ID 567743
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