Tryg A/S - share buy back programme in compliance with new regulation
In continuation of announcement no. 08 on 5 April 2016 regarding the implementation of Tryg's 2016 share buy back programme, as of 4 July 2016, the programme is structured in compliance with the EU Commission new Regulation no. 1052/2016 of 8 March 2016, which became effective from 3 July 2016.
The share buy back programme
As previous announced, the share buy back programme is expected to be implemented until the end of 2016.
The pro rata buy back from TryghedsGruppen smba will continue unchanged during the share buy back, i.e. the owner's share of 60% is maintained.
The following guidelines apply to Tryg's share buy back programme:
- The share buy back programme for 2016 is DKK 1bn
- The maximum number of shares to be repurchased during the programme is 14m.
- The daily volume of purchased shares cannot exceed 25% of the daily turnover on NASDAQ Copenhagen and measured as an average of a period of running 20 trading days.
- Shares cannot be purchased at prices higher than the two following prices:
- The price of the latest independent trade.
- The price of the highest independent bid on NASDAQ Copenhagen.
Tryg will announce the number of repurchased shares and the value of these shares and all transactions on each trading day in a separate announcement to NASDAQ Copenhagen every week.
As of 4 July 2016, Tryg had repurchased 2,762,324 own shares for a total amount of DKK 344m corresponding to 34.4% of the 2016 programme.
Vedhæftede filer:
15_2016 Tryg_share buy back programme in compliance with new regulation.pdf